in News Departments > New & Noteworthy
print the content item

JA Solar Holdings Co. Ltd. has entered into a share-transfer agreement with M.SETEK Co. Ltd., a Japan-based polysilicon and solar wafer manufacturer controlled by AU Optronics Corp.

M.SETEK will transfer its 65% equity interest in Hebei Ningjin Songgong Semiconductor Co. Ltd. to JA Solar Hong Kong Ltd., a wholly owned subsidiary of the company, for RMB247.0 million (approximately $38.9 million).

Ningjin Songgong is a producer of solar-grade monocrystalline silicon ingots with an annual production capacity of 2,000 metric tons. Its production of monocrystalline silicon ingots is expected to complement the company's existing monocrystalline silicon wafer slicing capabilities.

The parties expect to complete the share transfer by the end of this year, subject to possible government approval. The parties have been liaising with the Anti-Monopoly Bureau of the Ministry of Commerce of the People's Republic of China (PRC) to evaluate the necessity of an anti-trust filing of the transaction under PRC law.

The share transfer is part of an arrangement with M.SETEK to settle outstanding prepayments made by the company to M.SETEK for polysilicon supply. Due to a magnitude-9 earthquake in Japan and a consequent tsunami, M.SETEK failed to make the majority of the scheduled delivery of polysilicon to the company, JA Solar says.



Hybrid Energy Innovations 2015

Surrette_id1409
Latest Top Stories

New York Raises Solar Net-Metering Caps As Part Of An Energy Initiative

Gov. Andrew Cuomo announced five significant steps to help improve New York's grid, develop more localized access to energy and encourage new business models.


Co-op Solar Procurement: Exciting Opportunity Or Grounds For Turf War?

Despite promising growth in the utility sector, further procurement of solar on utility co-op systems could be stalled.


Colorado PUC Rejects Xcel Energy's Solar*Connect Subscription Program

Citing a lack of demand and concerns over pricing, Colorado regulators wasted little time in dismissing the utility's community solar proposal.


NextEra To Purchase Majority Stake In Hawaiian Electric In $4.3 Billion Deal

If approved by shareholders and regulators, the merger of NextEra and Hawaiian Electric Industries will produce one of North America's largest renewable energy companies.


EnterSolar Completes 1.6 MW Rooftop For Long Island Distributor

NYC developer structures three discrete projects to maximize feed-in tariff and net-metering incentives.

Hybrid Energy Innovations 2015
Maynards_id1471