UPDATE 1-JA Solar secures 10 GW supply from GCL-Poly

* GCL-Poly to supply polycrystalline wafers, products

* Says supply for 5 years, from Jan ’11-Dec ’15

Dec 2 (BestGrowthStock) – JA Solar Holdings Co (JASO.O: ) said
Chinese polysilicon maker GCL-Poly Energy Holdings (3800.HK: )
will supply 10 gigawatts of polycrystalline wafers and products
to it for five years.

Sales of solar equipment have jumped this year as buyers
rush to build projects ahead of declining subsidies in major
European markets.

Companies around the globe, particularly in China, are
quickly adding factories to increase production capacity of
cells and modules to keep up with this growing demand.

Under Thursday’s deal, GCL-Poly will supply the products to
Shanghai, China-based JA Solar from January 2011-December 2015
at pre-determined shipment volume.

JA Solar, which shipped 418 megawatts (MW) in the third
quarter, had raised its full-year shipment view for a second
time in three months. [ID:nSGE6A80ON]

Earlier in the day, SunPower (SPWRA.O: ) said it signed a
contract to build a 3.4 MW solar plant in Italy’s Lazio region.
[ID:nASA016K5]

JA Solar’s shares fell 17 percent in the last one month as
margin concerns drag the whole sector. The stock closed at
$6.96 on Wednesday on Nasdaq.
(Reporting by Krishna N Das in Bangalore; Editing by Don
Sebastian)

UPDATE 1-JA Solar secures 10 GW supply from GCL-Poly