PVTIME – JA Solar, the world’s leading manufacturer of solar cells and modules, announced on 24 February 2023 that it has issued a proposal for unspecified targets for A-share convertible bonds of not more than RMB 8.96 billion yuan. The funds will be used for silicon material processing, solar cell and module production and to supplement working capital after deducting issuance costs.
Specifically, 2.7 billion yuan of the funds will be used for the Phase III of JA Solar’s Cz Si processing and slicing projects in Baotou City, China, with a production capacity of 20GW. 2.334 billion yuan will be used for a 10GW high-efficiency solar cell project and 5GW high-efficiency solar module project, another 1.5 billion yuan will be used for a 10GW high-efficiency solar cell project, and the remaining 2.426 billion yuan will be used for additional working capital.
In addition, two production expansion plans have been released by JA Solar since January 2023. It intends to build a low-carbon PV solar production base in Ordos City, China, covering the products in the whole PV solar supply chain to achieve production capacity of 150,000MT/100,000MT of PV raw materials, 20GW of silicon materials via Cz Si processing, 20GW of silicon wafers, 30GW of solar cells, 10GW of modules and auxiliary materials, with a total investment of about 40 billion yuan. And another project in Huishan City aims to reach an annual output of 500 units of monocrystalline furnace, 100MT of slurry, with a total investment of 356 million yuan.
