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11/24/2008 04:55 AM
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JA Solar, BP to Sign Long-Term Agreement
SustainableBusiness.com News
JA Solar (Nasdaq: JASO)and BP Alternative Energy Holdings Limited, a subsidiary of BP (NYSE: BP) announced their intention to jointly develop and market part of their solar photovoltaic product portfolio over the next five years.
The companies expect to sign a definitive commercial agreement by the end of the year.
JA Solar is expected to contribute its manufacturing and execution capabilities, plus its access to third party silicon and/or wafers, while BP is expected to bring its access to its own silicon and/or wafer supply, provide access to its global customer portfolio, and leverage its brand and sales and marketing capabilities in key markets.
"Our two companies are in a strong position to help lead the way in achieving grid parity more rapidly and accelerating the worldwide adoption of solar photovoltaic solutions. The proposed alliance is a good fit and is intended to allow us to build on each others' strengths in a mutually beneficial way," said Samuel Yang, JA Solar's chief executive officer.
Based in Hebei, China, JA Solar Holdings Co., Ltd. is a manufacturer of monocrystalline solar cells. The company sells its products to solar module manufacturers who assemble and integrate its solar cells into modules and systems that convert sunlight into electricity.
Last week BP Solar signed a three-year solar cell supply agreement with LDK Solar (NYSE: LDK).
BP Solar seems to be intent on creating production partnerships after halting plans for a massive production facility the U.S. and announcing the closure of a plant in Sydney, Australia.
Website: http://http://www.jasolar.com/Web/index-en.asp
