JA Solar Holdings Reports Contract Win, Shares Gain 2.50%

Shares of

were trading higher by more than 2.50 percent on Monday after the company

it won a contract in South Africa. JA Solar successfully won the bidding and will work with 2 local partners, Solar Capital and Black Enterprise Empowerment. JA Solar noted it will be the sole supplier for an 86 MW solar PV plant that is currently being developed by South Africa's Renewable Energy Independent Power Producer Procurement Program (REIPPPP). JA Solar will begin shipping its P310W multicrystalline silicon modules to South Africa in 2017 and is expected to be completed by the end of the year. Mr. Jian Xie, President of JA Solar, commented, "We are honored to be awarded the winning bid in this round and are very proud of being the exclusive module supplier for this 86MW project. This achievement is another testament to the global recognition of JA's products, and is a new milestone in our global market expansion efforts. There are many more such opportunities for JA as Africa continues to develop. With our high-performance PV modules capable of greatly reducing the per-watt cost of electricity, JA is well positioned to provide assistance to South Africa for overcoming its energy shortage as the nation grows."