Bank of Communications of China is providing JA Solar with a RMB550 million (US$50 million) credit facility.
The provision as lines of credit from Chinese financial institutions become harder for many smaller firms to access.
The credit facility has been split between JA Solar (US$40.8 million) and its majority shareholder, Jinglong Group, which has JA Solar’s executive chairman and CEO as Jinglong Groups chairman.
Baofang Jin, executive chairman and CEO of JA Solar, and chairman of Jinglong Group, commented: “This credit facility demonstrates JA Solar's healthy access to capital and ongoing support from the banking community. It also highlights the value of JA Solar's relationship with Jinglong Group. We remain focused on maintaining a strong balance sheet as we continue to build our footprint across key growth markets.”
JA Solar said it would use the credit facility for working capital and general corporate purposes.