JA Solar Gets Loan For Wafer Production In Vietnam

China’s Vertically Integrated VP Module Maker JA Solar Enters Long-Term Buyer Credit Loan Agreement For Up To $68.4 Million To Procure Wafer Production Equipment For 1.5 GW Vietnamese Factory
05:53 AM (Beijing Time) - 12. July 2018
photo JA SNEC 2017 IMG_2239

Vertically integrated solar module maker JA Solar says its new Vietnam wafer facility will have a total annual production capacity of 1.5 GW.

Key Takeaways

  • JA Solar has secured a loan facility to fund the procurement of wafer production equipment for its Vietnam located facility
  • China Minsheng Bank Corporation Limited Shijiazhuang Branch will provide up to $68.4 million under a long-term buyer credit loan agreement
  • JA Solar has agreed to offer corporate guarantee against 7-year loan facility

JA Solar Vietnam Company Limited, a wholly owned subsidiary of Chinese module manufacturer JA Solar Holdings Co., Ltd. has secured financing for its wafer production plans in Vietnam. It has signed a long-term buyer credit loan agreement for up to $68.4 million to fund the procurement of equipment for its 1.5 GW wafer manufacturing facility.

China Minsheng Bank Corporation Limited Shijiazhuang Branch will offer the loan for a 7-year term. JA Solar Vietnam has also signed a guarantee agreement with the bank to provide a corporate guarantee against the loan facility.

In November 2016, JA Solar was reported to be working on setting up its Vietnam factory at Quang Chau Industrial Zone in Viet Yen district, with an investment of over $1 billion (see JA Solar Starts Work On Vietnam Factory).

In addition to the Vietnam factory, JA Solar already has another fab abroad – a 1 GW cell and module production capacity in Malaysia. Nine production facilities are located in China.

 

 

Anu Bhambhani

Anu Bhambhani is the News Editor of TaiyangNews

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Anu Bhambhani