UPDATE: JA Solar Up 4.5%; Inks Supply Deal with German Contractor
JA Solar ( JASO ) is up 4.5%, but not by as much as the 8% gained in pre-market trading after it said it entered into an agreement with Solarhybrid AG, a Germany-based project developer and general contractor for utility-scale solar power projects, to supply 19 MW of solar modules to Solarhybrid's Allstedt I solar power plant in Halle, Germany. JA Solar is the exclusive solar module supplier to the project.
Under the terms of the agreement, JA Solar will supply Solarhybrid with approximately 19 MW of high-efficiency PV modules. Located on a former military airfield in Germany, the Allstedt I solar power plant is expected to generate 19,030,000 kWh of electricity annually and reduce CO2 emissions by 266,381 tons over a service period of 20 years. The power plant is scheduled to be connected to the grid and commence operation by the end of this year.
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