JA Solar (JASO) Secures 10GW Supply Of Polysilicon Wafers From GCL-Poly

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11:00:11 am on December 2, 2010

JA Solar (JASO) won’t have a problem finding materials for solar panel production over the next five years.  The company just signed a big 10GW supply deal with GCL-Poly for a five year period.

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“We are very pleased to strengthen our long-term strategic partnership with GCL-Poly, China’s largest polysilicon manufacturer and a global leader in solar wafer manufacturing,” said Mr. Jian Xie, Chief Operating Officer of JA Solar. “This multi-year supplemental supply agreement fundamentally improves our supply chain positioning with an expanded strategic supply of attractively priced poly-crystalline solar wafers. It also provides a solid foundation to support JA Solar’s rapid growth and will significantly improve our cost competitiveness in the dynamic solar industry,” he said.

Shares of JASO are still in correction mode, but beginning to look mighty compelling at these levels after a more than 30% correction off the highs of the year.  However, JASO may need to test the 200 day moving average around the $6.30 level before a sustained rally can take place.  Should it move to that level, I’ll be getting in with a sizable position.

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