JA Solar has executed an agreement to procure PV glass for RMB 2.1 billion. (Photo Credit: TaiyangNews)
- JA Solar will purchase solar PV glass from Rainbow New Energy under a strategic cooperation agreement signed between the two
- It will be buying PV glass for a total cost of RMB 2.1 billion basing it on average price of PV glass in the month of March 2020
- JA Solar points out that a purchase contract works in times when the cost of PV glass has increased significantly
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China’s vertically integrated module maker JA Solar Technology has entered into a RMB 2.1 billion PV glass products purchase and services contract with Rainbow New Energy in March 2020. JA Solar said PV glass is one among 7 major components of PV modules and accounts for 6% to 7% of total module cost.
Of late the cost of PV glass has increased significantly. The sales price is based on the average price of PV glass in the month of March 2020. The Chinese manufacturer hasn’t disclosed the quantity it will procure under the agreement.
Rainbow New Energy is a subsidiary of Rainbow Group listed at the Hong Kong Stock Exchange with industrial bases in Shaanxi, Anhui, Jiangsu and other regions. In Hefei, the company has the ‘world’s largest’ oxy-combustion PV glass production fab. It reported 42% annual increase in its PV glass sales for H1/2019 and claims to hold the third spot globally for its current production capacity.
The news comes after JA Solar announced an expansion of its annual solar cell production capacity at Yiwu to 10 GW increasing it from 5 GW while adding 10 GW of new module capacity here (see JA Solar Ups Cell Capacity Expansion Plans).