JA Solar believes the expansion of its capacity by 15 GW for PERC bifacial capacity will improve its competitiveness and enhance profitability. Now, it plans to raise funding through private placement of shares to fund this expansion. (Photo Credit: TaiyangNews)
- JA Solar has announced it plans to raise funding through private placement of shares
- Up to RMB 5.2 billion are to be raised, as per the company’s plans, to invest in 15 GW of solar cell and module production capacity
- It will comprise high efficiency monocrystalline PERC solar cell and module capacity of 5 GW and 10 GW
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JA Solar Technology Co., Ltd. plans to raise up to RMB 5.2 billion ($737 million) to invest in 5 GW high efficiency solar cell and 10 GW high efficiency module production capacity through private placement of shares. In a statement, the management of the vertically integrated Chinese PV module maker said of the total amount proposed to be raised, RMB 3.7 billion ($524.6 million) will be invested in the 15 GW planned capacity, while the other RMB 1.5 billion ($212 million) will be used as working capital.
As for technology, 5 GW solar cell capacity will comprise monocrystalline PERC bifacial solar cells and 10 GW monocrystalline PERC bifacial modules. These factory projects will be implemented in Yiting Buddha Hall in Yiwu city.
The entire capacity should be constructed within 24 months, as per company estimates and on completion it would further enhance the company’s competitiveness while improving its profitability.
In February 2020, JA Solar said it will be expanding annual solar cell production capacity at Yiwu with 10 GW and another 10 GW of module production (see JA Solar Ups Cell Capacity Expansion Plans).
Recently, the company announced it will aim for 16 GW of solar module production capacity by the end of 2020 (see JA Solar To Expand Module Capacity To 16 GW).