JA Solar Holdings Co and MEMC Electronic Materials Inc will join forces to build a photovoltaic solar cell factory in China, the latest expansion by the fast-growing renewable energy industry.
JA Solar and MEMC said on Monday they will form a 50-50 joint venture to build a 250-megawatt facility at JA’s site in Yangzhou to make solar cells, which are put together to create solar panels.
The solar industry is coming off its biggest year ever in sales, and companies around the world are spending heavily to increase their production capacity and grab a larger share of the market.
The plant is expected to begin commercial production in the second half of the year, and could eventually grow to a production capacity of 1,000 MW.
Shares of JA Solar were up about 1 percent in premarket trading to $7.10.
