MEMC To Buy Solar Modules From JA Solar

By St. Louis Business Journal

Chinese solar cell maker JA Solar Holdings Co. Ltd. said Tuesday that it has an agreement to supply high-performance solar modules to MEMC Electronic Materials Inc. starting in the third quarter this year and continuing through 2012.

Terms of the deal werenâ¿¿t disclosed.

Shanghai, China-based JA Solar Holdings (Nasdaq: JASO) sells its products to solar manufacturers worldwide serving the residential, commercial and utility power generation markets.

St. Louis-based MEMCâ¿¿s SunEdison unit develops solar power projects.

Sean Hunkler, MEMC's senior vice president of customer advocacy, said in a statement of the deal with JA Solar, "Our two companies have complementary strengths in their respective segments of the solar value chain, and we look forward to a mutually beneficial long-term partnership with JA Solar."

JA Solar's chief executive, Peng Fang, said in a statement that the deal diversifies JA Solarâ¿¿s geographic presence and provides the company with access to MEMCâ¿¿s large project development pipeline.

Last week, MEMC completed its $76 million purchase of Solaicx, a maker of silicon ingots for the solar industry.

St. Peters, Mo.-based MEMC Electronic Materials Inc. (NYSE: WFR), led by Chief Executive Ahmad Chatila, manufactures wafers for the semiconductor and other industries, and develops solar power projects and provides solar energy services through its SunEdison division. MEMC reported $1.2 billion in 2009 revenue.

Copyright 2010 American City Business Journals

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Copyright bizjournals.com 2010

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