JA Solar and Essel Infraprojects Limited Sign
MOU on 500MW PV Joint Venture
Shanghai, China, May 25, 2015 - JA Solar Holdings Co., Ltd. (Nasdaq:JASO)
(''JA Sola''), one of the world's largest manufacturers of high-performance
solar power products, today announced that it has signed a Memorandum of
Understanding (the ''MO'')
with its Indian business partner, Essel Infraprojects Limited (''EI''), to establish a solar cell
and module manufacturing facility joint venture (''JV''). The MOU declares a 500MW production capacity
for the JV and outlines the duties of each party.
The agreement was reached on May 16th at
the India-China Business Forum held in Shanghai,
where Indian Prime Minister Narendra Modi, Chinese national leaders, and commercial and
industrial representatives of both countries were in attendance, including JA
Solar and its partner, EIL.
Cooperation opportunities in the photovoltaic
industry were a special focus at the Forum, as the leaders agreed that the
establishment of a photovoltaic park should be a priority on the agenda. More
than twenty different agreements were signed by representatives at the forum,
representing up to 22 billion U.S. dollars in total investments.