in News Departments > New & Noteworthy
print the content item

comments: 0

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.



SolarEnergyTradeShow_id1384

Surrette_id1409
Latest Top Stories

Solar Capacity Increases Sharply At U.S. Schools

A new study shows that solar power for K-12 schools is a hot market with plenty of room for future growth.


SolarCity Strikes An East-West Pose In Its New Commercial Mounting System

The first major new product release from SolarCity's Zep Solar business unit since last year's merger reveals new opportunities in the commercial solar space.


Central America's Heart Set On Solar With New Government Tenders

Big deals in El Salvador and Honduras point toward a surge in photovoltaic capacity in the region.


Con Edison To Meet Overload With Storage And Demand Management

Rather than dropping $1 billion on infrastructure to meet overload forecasts, the venerable electric utility is proposing a novel package of customer-side load management programs that could serve as a model for other energy providers.


U.S. And China Account For Over Half The World's PV Pipeline

While the usual suspects continue building photovoltaic projects at a breakneck pace, two new players are emerging with impressive capacity growth.

S&C Electric_id1352
SilcoTek
CanSolIndus_id1429
Liquidity_id1432
PVcobra_id1394
Future Energy_id1428