JA Solar has signed a financial partnership agreement with the Shanghai branch of government-owned China Development Bank. The terms of the deal call for CDB to provide up to RMB 30 billion of credit facilities and financing to JA Solar to support the PV cell company’s long-term growth and corporate development plans.
The agreement provides a broad framework in which CDB and JA Solar will collaborate for mutual opportunities to facilitate the cell manufacturer’s strategic growth plans. As a strategic partner, CDB will provide financial support for the PV company’s capital needs for future projects and long-term development plan. Collaboration opportunities include mutually beneficial arrangements for project financing and financial services.
CDB also agrees to actively support JA Solar in the investment in and financing of its business development and growth plans. The parties will meet on a regular basis to identify additional opportunities for strategic cooperation. The two entities have also agreed to work closely to improve JA Solar’s global competitiveness, and collaborate to create an international financing platform to support its growth and capital needs.
Detailed terms of the various credit facilities will be subject to the internal procedures to be conducted by CDB in accordance with its risk management and operational regulations, subject to individual credit and lending agreements, according to the signees.