20GW photovoltaic project of photovoltaic leader postponed

On July 10, JA Solar Technology issued an announcement on the extension of some fundraising projects, agreeing to extend the construction period of the fundraising project "Baotou JA Solar (Phase III) 20GW crystal pulling and slicing project" to June 2025.

The total investment of the project is 5.8 billion yuan, and the total investment of the raised funds is 2.7 billion yuan. It is divided into two phases. The first phase of 10GW crystal pulling and slicing has started trial production in April 2023, and the second phase of 10GW crystal pulling and slicing has started trial production in October 2023. It has now reached normal production conditions, and the project under construction has been gradually converted into fixed assets.

JA Solar stated that due to the company's overall capacity planning, the project construction has been delayed. The civil engineering project of the project has not yet completed the final settlement, and some machinery and equipment have not yet completed the acceptance, so it is not yet in place for the project to be completed. The project was originally scheduled to have a construction period of 32 months and was originally planned to be completed in June 2024. In view of the above reasons and future project work plans, the project construction period has been extended by 1 year to June 2025.

The 10GW high-efficiency battery and 5GW high-efficiency module projects mentioned in the announcement held a production ceremony at the Qujing base on December 24, 2023, with a total investment of approximately RMB 5.4 billion, and plans to use RMB 2.3 billion of raised funds; the implementing entity of the 10GW high-efficiency solar cell project is JA Solar (Yangzhou) Solar Technology Co., Ltd., with a total investment of RMB 2.6 billion, and plans to use RMB 1.5 billion of raised funds.