BizLIVE - China’s JA Solar has begun construction of a solar photovoltaic cell manufacturing plant in Bac Giang province.
JA Solar Starts Building $320-Million PV Cell Plant in Northern Vietnam
JA Solar has started building a solar photovoltaic cell manufacturing plant in northern Vietnam. Photo:
JA Solar Vietnam Company, a subsidiary of JA Solar Hongkong Investment, on November 27 kicked off construction of a solar photovoltaic cell manufacturing plant in the northern province of Bac Ninh.
The firm will pour $320 million in the project in the first three years. Once operational, the plant will have an assembly capacity of 1.5 gigawatts and generate revenue of $500 million per year.
The plant will be built in Quang Chau Industrial Park, owned by Saigon Bac Giang Industrial Park JSC (SBG) – a subsidiary of Ho Chi Minh Stock Exchange-listed Kinh Bac City Development Corp. (KBC).
In July this year, JA Solar Hongkong Investment signed an agreement with SBG to rent 88 hectares of land at the industrial park to develop the solar cell manufacturing project that could have an investment of over $1 billion.
JS Solar Holdings Co. was founded in May 2005 and listed on the NASDAQ in February 2007. It now has eight manufacturing facilities, mostly located in China. Its 2015 sales reached $2.15 billion.
In the third quarter (Q3) ended September 30, 2016, JA Solar earned a net income of $6.6 million, compared to $38.8 million in Q3/2015 and $24.6 million in Q2/2016. Its net revenue increased 9% year-on-year to $624.3 million.