JA Solar, www.jasolar.com – a global leader in high-performance solar cells and modules, today reported signing of a Financial Partnership Agreement with the Shanghai branch of the Chinese central government’s solely owned policy bank, China Development Bank (CDB).
The agreement constitutes a rather symbiotic operational framework for collaborative efforts between CDB and JASO while developing the Company’s long-term growth strategy, and provides up to RMB 30B of financing and credit facility towards that end.
Internal CDB risk management and operational regulations (subject to individual credit and lending agreements) will ultimately determine the discrete details of terms for the credit facilities, with CDB providing financial flexibility in the arrangement and mutual benefits naturally emerging in the project financing and financial services areas.
This is a really strong vote of confidence for JASO, in a sense directly from the Chinese government, with CDB agreeing to take up an active role in furthering the Company’s overall development via investment and consistent financing.
CEO of JASO, Dr. Peng Fang, hailed the agreement as a clear statement from CDB of supreme confidence in the Company as a business and as a dedication to supporting the Company’s growth aspirations.
Dr. Fang indicated that the backing of such a strong financial partner has truly emboldened JASO to conquer its business opportunity and strategic growth goals.
Regular meetings between the two parties to confer on tactics/strategy, JASO’s global competitiveness and the creation of a robust international financing platform to support the Company’s expansion and capital needs will occur as developments proceed.
All of this puts JASO in a very able position to produce returns for the Company’s investors as the burgeoning solar market increases in size with each passing quarter.
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