This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

JA Solar Gets $4B China Loan Package

NEW YORK( TheStreet) -- The controversial news in solar this week was the attack by the U.S. Steelworkers Union that China is giving unfair support to its green energy companies. But that hasn't slowed China a bit, as evidenced by new Chinese bank support for its green energy sector.

On Thursday, the powerful steelworkers union petitioned the Obama administration to challenge China over unfair trade support for green companies.

On Friday, JA Solar (JASO - Get Report) announced that it had signed a loan agreement with a branch of the China Development Bank that equalled roughly $4.4 billion.

JA Solar is the latest among the big Chinese solar firms to receive big loan packages from the China Development Bank this year, following Trina Solar (TSL - Get Report), Suntech Power (STP) and Yingli Green Energy (YGE), which together nabbed roughly $16 billion in Chinese loan packages.

Trina Solar received just under $4 billion. Suntech received a loan package of over $7 billion, while Yingli received loan offers of up to $5.3 billion.

The loan package is for general purposes and long-term development of JA Solar, and as in the case of the other deals, it's structured as a letter of intent so it's not as if JA Solar is receiving the $4 billion today or tomorrow. "The parties will meet on a regular basis to identify additional opportunities for strategic cooperation. They have also agreed to work closely to improve JA Solar's global competitiveness, and collaborate to create an international financing platform to support JA Solar's growth and capital needs," the JA Solar release stated.

JA Solar shares surged earlier this week when it announced at the Valencia, Spain, solar conference that it has already booked 500 megawatts in shipments for 2011, with shares reaching a 52-week high.

-- Written by Eric Rosenbaum in New York

>To contact the writer of this article, click here: NAME.


>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
STP $0.53 0.00%
JASO $8.44 0.00%
TSL $10.33 0.00%
YGE $0.48 0.00%
AAPL $109.50 0.00%


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs