JA Solar Holdings Co., Ltd. (Nasdaq: JASO) ("JA Solar"), one of the world's largest manufacturers of high-performance solar power products, today announced that it has signed a Memorandum of Understanding (the "MOU") with its Indian business partner, Essel Infraprojects Limited ("EIL"), to establish a solar cell and module manufacturing facility joint venture ("JV"). The MOU declares a 500MW production capacity for the JV and outlines the duties of each party.
The agreement was reached on May 16th at the India-China Business Forum held in Shanghai, where Indian Prime Minister Narendra Modi, Chinese national leaders, and commercial and industrial representatives of both countries were in attendance, including JA Solar and its partner, EIL.
Cooperation opportunities in the photovoltaic industry were a special focus at the Forum, as the leaders agreed that the establishment of a photovoltaic park should be a priority on the agenda. More than twenty different agreements were signed by representatives at the forum, representing up to 22 billion U.S. dollars in total investments.
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