JA Solar (JASO) Inks 29MW Italian Supply Deal, But Falls On Downgrade

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10:09:10 am on January 26, 2011

JA Solar (JASO) has signed a 29MW solar module supply contract with a new Italian customer.  It’s a subsidiary of an unnamed  large utility group in Europe and the modules will be supplied this year.  The number of Italian supply deals for the Chinese solar manufacturers has picked up in recent months as Italy is expected to replace some the decrease in demand out of Germany.

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“We are pleased that this new strategic customer, a leading developer and provider of PV systems in Italy, has chosen JA Solar as a supplier for their solar projects,” stated Dr. Peng Fang, CEO of JA Solar. “This new partnership further demonstrates JA Solar’s strength in building long-term strategic relationships with leading international solar companies. As we continue to build momentum in the global PV market, we look forward to delivering high-quality and innovative solar power products to more of the world’s top solar providers.”

While the supply news is a positive this morning, shares of JASO are falling more than 5% after Collins Stewart issued a downgrade from Buy to Neutral.

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