JA Solar Holdings Co., Ltd. (Nasdaq: JASO) (JA Solar), one of the world's largest manufacturers of high-performance solar power products, today announced that Australia's 70 MW Moree Solar Farm (MSF) has begun to install the batches of solar modules provided by JA Solar since June. As MSF's exclusive supplier, JA Solar will keep delivering JAP6-315 and JAP6-310 modules to meet all demand of 70 MW modules. Early this year, MSF was acknowledged by IJ Global as the best solar transaction of 2014 in the Asia Pacific region. The award recognizes excellence, achievement and innovation in energy and infrastructure finance.
MSF is located 10 km south of Moree, in northern New South Wales. The project is owned by Fotowatio Renewable Ventures ("FRV"). Project financing totaling $164 million, including a $102 million grant from the Australian Renewable Energy Agency and $47 million of debt financing from the Clean Energy Finance Corporation, was secured in August 2014, and construction of the farm broke ground in November 2014.
Andrea Fontana, Australia Country Manager of FRV, commented, "The Moree Solar Farm is currently the largest solar farm under construction in Australia. Once completed, MSF will produce enough electricity to power the equivalent of nearly 15,000 New South Wales homes and abate nearly 95,000 tons of carbon pollution each year. Additionally, it will create more than 100 jobs during its construction."
Xie Jian, President and COO of JA Solar, added, "Demand in the Australian market has historically been centered on rooftop solar for residential use. As a leading supplier of PV modules in Australia, JA Solar has been focusing on providing its highly-efficient mono-crystalline and poly-crystalline silicon modules for rooftop installations in this market. We are now very pleased not only to see a large-scale project like the Moree Solar Farm in Australia, but also to be a significant contributor to the project. We believe that the launch of MSF will serve as a foundation for potential opportunities to cooperate on more large-scale solar projects in Australia in the future."
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