NASDAQ-listed solar manufacturer JA Solar Holdings‘ board of directors has approved a share repurchase programme to repurchase up to $75m of its American depositary shares, effective in December 2009.
The repurchases will be made on the open market at prevailing market prices, in negotiated transactions off the market and in block trades. If the plan is adopted, it will allow JA Solar to repurchase its American depositary shares during periods in which it may be in possession of material non-public information. The purchases will be made subject to restrictions relating to volume, price and timing, and the timing and extent of purchases will depend upon market conditions and the trading price of shares.
‘This share repurchase programme is a demonstration of confidence in our financial strength and long-term growth opportunities,’ said Baofang Jin, chairman and CEO of JA Solar. ‘The approval of the share repurchase programme by our board of directors reflects our ongoing commitment to increase shareholder value.’
JA Solar Holdings sells solar cells and products to solar manufacturers worldwide, who assemble and integrate solar cells into modules and systems. Based on strong customer demand, the company expects shipments for the fourth quarter of 2009 to exceed 210MW, compared with prior guidance in the range 170MW to 200MW. The company also expect that for the full year 2009 shipments to exceed 488MW, compared with prior guidance in the range of up to 478MW. The company says that for the full year 2010, it expects shipments to be up to 800MW.
Copyright © 2009 NewNet
Wednesday, December 16, 2009
Friday, December 11, 2009
Suntech Signs 490 MW Module Supply Agreements With Multiple Partners
Suntech has signed three long-term supply agreements for up to 490 MW of solar modules to be delivered over the next three years.
Suntech's strategic long-term partners in Europe include a value-added reseller, an engineering, procurement and construction company, and a project developer. Under the terms of the agreements, 115 MW is planned to be supplied in 2010, 155 MW in 2011 and 220 MW in 2012, with the option to increase volumes.
Suntech says it anticipates concluding additional long-term supply agreements during the next few months, reflecting a flight to quality solar companies that have bankable products, and the capability and credibility to support long-term growth.
SOURCE: Suntech Power Holdings Co. Ltd.
Suntech's strategic long-term partners in Europe include a value-added reseller, an engineering, procurement and construction company, and a project developer. Under the terms of the agreements, 115 MW is planned to be supplied in 2010, 155 MW in 2011 and 220 MW in 2012, with the option to increase volumes.
Suntech says it anticipates concluding additional long-term supply agreements during the next few months, reflecting a flight to quality solar companies that have bankable products, and the capability and credibility to support long-term growth.
SOURCE: Suntech Power Holdings Co. Ltd.
China Now In Top Two Nations For Renewable Energy Projects
China is now one of the top two most attractive locations in the world in which to invest in renewable energy projects, according to Ernst & Young's latest global renewable energy country attractiveness indices.
China, which is ranked just behind the U.S., has moved ahead of Germany for the first time in the report's six-year history. Ranked fourth in 2008 and sixth in 2007, China has been steadily improving its position as one of the powerhouses of the renewable industry as it increases its commitments to reduce emissions through its carbon intensity reduction plans, says Ernst & Young.
The Ernst & Young Indices rank countries according to their desirability as locations for investing in renewable energy technologies. The indices, which set scores out of 100, provide rankings for national renewable energy markets, renewable energy infrastructures and their suitability for individual technologies.
The indices also see rises for both Brazil and Japan. The Japanese government's new targets to reduce greenhouse gas emissions by 25% (based on 1990 levels) by 2020 are a significant increase on previous targets of 8%.
The U.K. has risen one point (ranked sixth) following further announcements relating to improvements with the grid connection process and a further 1.15 billion pounds of investment in the grid. But the scale of some overseas markets and, in particular, the speed of growth that is being achieved by the renewables industries in the tiger economies, has affected the U.K.'s ability to attract significant investment from the global market, the report notes.
In the U.S., the ambitious climate change bill has not yet been passed, but as the worst of the credit crunch starts to ease, the forecast for developments remains optimistic. In Eastern Europe, investment has become increasingly attractive over the last year as investors seek to exploit new, high-growth potential markets.
Manufacture of solar modules in Europe has come under increasing price pressure from Chinese products as the cost of raw materials has fallen, with further consolidation looking likely in the sector, Ernst & Young adds.
SOURCE: Ernst & Young
China, which is ranked just behind the U.S., has moved ahead of Germany for the first time in the report's six-year history. Ranked fourth in 2008 and sixth in 2007, China has been steadily improving its position as one of the powerhouses of the renewable industry as it increases its commitments to reduce emissions through its carbon intensity reduction plans, says Ernst & Young.
The Ernst & Young Indices rank countries according to their desirability as locations for investing in renewable energy technologies. The indices, which set scores out of 100, provide rankings for national renewable energy markets, renewable energy infrastructures and their suitability for individual technologies.
The indices also see rises for both Brazil and Japan. The Japanese government's new targets to reduce greenhouse gas emissions by 25% (based on 1990 levels) by 2020 are a significant increase on previous targets of 8%.
The U.K. has risen one point (ranked sixth) following further announcements relating to improvements with the grid connection process and a further 1.15 billion pounds of investment in the grid. But the scale of some overseas markets and, in particular, the speed of growth that is being achieved by the renewables industries in the tiger economies, has affected the U.K.'s ability to attract significant investment from the global market, the report notes.
In the U.S., the ambitious climate change bill has not yet been passed, but as the worst of the credit crunch starts to ease, the forecast for developments remains optimistic. In Eastern Europe, investment has become increasingly attractive over the last year as investors seek to exploit new, high-growth potential markets.
Manufacture of solar modules in Europe has come under increasing price pressure from Chinese products as the cost of raw materials has fallen, with further consolidation looking likely in the sector, Ernst & Young adds.
SOURCE: Ernst & Young
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