JA Solar Vietnam Gets $68.4 Mn Loan for 1.5 GW Wafer Mfg Plant

Further, the move will help JA Solar arm to fund the procurement of equipment at it’s 1.5 GW of wafer manufacturing facility in Vietnam.

JA Solar Vietnam Company, a wholly-owned subsidiary of JA Solar Holdings Co, had entered into a long-term buyer credit loan pact with China Minsheng Bank Corporation Ltd Shijiazhuang Branch.

Further, the move will help JA Solar arm to fund the procurement of equipment at it’s 1.5 GW of wafer manufacturing facility in Vietnam.

As per the deal, the Chinese lender agreed to provide JA Solar Vietnam with a loan facility of up to USD 68,396,100 with 7 years term period.

In addition, the company had inked a guarantee pact with the Chinese lender, under which the company will provide corporate guarantee against the loan facility.

JA Solar is a leading high-performance solar products maker that converts sunlight into electricity for residential, commercial, and utility-scale power generation.

It is one of the world’s largest producers of solar power products and its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry.

The company distributes products under its own brand and also produces on behalf of its clients. It shipped 7.6 GW of solar power products in 2017.

Meanwhile, it is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu, Inner Mongolia and Anhui provinces in China, as well as Penang, Malaysia and Bac Giang, Vietnam.