JA Solar Holdings Co., Ltd. (NASDAQ: JASO) and MEMC Electronic Materials Inc. (NYSE: WFR) are offering some positive support to each other after announcing a joint venture agreement. The J-V agreement is between JA Solar and MEMC’s affiliate called MEMC Singapore and it will build and operate a solar cell production facility in China. The joint venture will be a 50/50 partnership between JA Solar and MEMC Singapore.
In Phase One, the J-V will build a production facility with a capacity of 250 megawatts of photovoltaic cells. The production facility will be located at JA Solar’s Yangzhou site and is expected to begin commercial production in the second half of 2011. In later phases, total production capacity may be expanded up to 1GW.
So far this is being viewed as more of a win for JA Solar as its shares are higher. Shares are up 1.7% at $7.12 and against a 52-week range of $4.22 to $10.24. MEMC Electronic Materials has not yet traded after a close of $12.95 on Friday against a 52-week range of $9.19 to $16.99.
In the past this might have caused more reaction in the share prices. That was then, this is now.
JON C. OGG
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