Suntech Power Holdings Co. Ltd. (NYSE: STP) recently announced that it acquired 375MW of ingot and wafer slicingcapacity in China. The wafer manufacturing capacity is being spun offfrom a subsidiary of Glory Silicon Technology Investments (Hong Kong)Limited, in which Suntech has an equity stake. The company will acquirethe remaining 70% shares of the capacity for a total cash considerationof around $127 million, which is the total consideration after an offset of approximately $80 million of liabilities owed to Suntech. Followingthe acquisition, the company will own 100% of the 375MW of wafermanufacturing capacity in China. The company plans to expand internalwafer capacity to 25% to 50% of its total cell and module capacity.
Suntech is a China-based solar energy company, engaged in the design,development, manufacturing and marketing of photovoltaic products,including a range of building-integrated photovoltaic products. Thecompany also offers engineering, procurement and construction servicesto building solar power systems using its own solar modules for certainrelated party and third-party customers.
SunPower Corp. (NASDAQ: SPWRA) announced an agreement to construct two solar power plants, totaling 10 megawatts, in the Puglia region of Italy. The company said that it will own the power plants and also design, construct and offer operationsand maintenance services for the plants.
SunPower is a San Jose, California-based vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric powertechnologies.
JA Solar Holdings Co. Ltd. (NASDAQ: JASO) recently announced its third-quarter financial results, with netrevenues at a record RMB 3.6 billion ($541.0 million), a sequentialgrowth of 52% from RMB 2.4 billion ($356.0 million) reported in thesecond quarter. This compares with revenue reported in the third quarter a year ago of RMB 1.3 billion ($197.2 million). The total shipments inthe third quarter of 2010 were 418MW, compared with the second-quartershipments of 311MW, representing an increase of 34%. The GAAP earningsper diluted ADS were RMB 3.14($0.47), compared with RMB 1.20($0.18) inthe second quarter of 2010, representing an increase of over 161%. Thechange in fair value of derivatives, a non-cash expense, totaled a RMB37.7 million ($5.6 million) loss in the third quarter compared with aRMB 34.0 million ($5.1 million) loss in the second quarter. The non-cash impact of the change in fair value of derivatives was RMB 0.23($0.03)per diluted ADS in the third quarter. The impact of significant non-cash items including a provision for prepayments to Shunda and change infair value of derivatives was RMB 0.61($0.09) per diluted ADS in thesecond quarter.
The company also raised its outlook forthe full year of 2010, with shipments to exceed 1.45GW as compared withprior guidance of 1.35GW. The shipments in the fourth quarter of 2010are expected to be approximately 450MW.
JA Solar is a China-based manufacturer of high-performance solar cells based in People’s Republic of China.