JA Solar Holdings Co., Ltd.(Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of high-performance solar power products, has announced that it has commenced solar module shipments from successful bids totaling 70MW with China Guangdong Nuclear Solar Energy Development Co., Ltd. ("CGN"). The Company has signed supply agreements with subsidiaries of CGN for an initial 30MW of modules, delivery of which is expected to be completed by the end of 2012. The modules will be used in projects in China's Qinghai and Xinjiang provinces. JA Solar's total of 70MW in successful bids makes it the largest single bid winner in a 150MW tender offered by CGN.
Dr. Peng Fang, CEO of JA Solar, said, "This cooperation with CGN, one of China's largest utility companies, is yet another clear sign that project developers in China increasingly recognize JA Solar for the reliability and affordability of our world-class product offering. Combined with our stable financial position, this forms a solid foundation for JA Solar's continued long-term growth in this promising market."
