India: JA Solar and EIL sign 500 MW PV manufacturing MOU

In an effort to expand its global footprint, the Chinese module manufacturer has partnered with India’s EIL to set up a 500 MW PV cell and module manufacturing facility in India. The MOU was signed on May 16 at the India-China Business Forum held in Shanghai. No further details were released and the company could not be reached for comment.

In Malaysia, JA Solar recently announced its intention to open a 400 MW PV cell plant. At the company’s Q1 earnings call, it said the plant, to be established in Penang, will be ideally located to serve key solar markets in south and south east Asia. Again, no further details were released, and the company did not respond to requests for comment.

On May 10, JA Solar established another joint venture, this time with Soventix Chile SPA in Santiago de Chile. Under the agreement, the companies will work together on 130 MW of PV projects in Chile. The first projects are expected to be completed this year. No further details were released, and the company again failed to respond to pv magazine’s questions.

Regarding JA Solar’s Q1 2015 financials, the manufacturer saw its net income dive, both Q/Q and Y/Y, to RMB 35,529 million (around US$5.7 million), from RMB 153,082 million in Q4 2014 and RMB 82,634 million in Q1 2014. Gross margin was 16.1%, compared to 16.7% in Q1 2014, and 15.5% in Q4.

Net revenue increased slightly, from RMB 2.3 billion in last year’s Q1, to RMB 2.4 billion (around $387.7 million) in Q1 2015. It dropped from the RMB 3.6 billion recorded in Q4 2014, however. "Year over year growth was driven by strong demand in the Japanese and European markets," wrote JA Solar in its earnings statement. Gross margin was 16.1%, compared to 16.7% in Q1 2014, and 15.5% in Q4.

In terms of shipments, the Chinese manufacturer shipped 584.1 MW of modules, up from 388 MW in Q1 2014, but sequentially down, from 879.6 MW. Cell shipments fell Y/Y from 250.1 MW, to 97.4 MW, but rose slightly Q/Q from 73.1 MW. Looking ahead to Q2, JA Solar forecasts total shipments to be between 680 and 720 MW. Full year 2015 shipments, meanwhile, are expected to be in the range of 3.6 to 4 GW.