Solar Power, Inc. and JA Solar to Enter Agreement for up to 60 Megawatts of Cells in 2009

Mon Jan 5, 2009 7:00am EST
 
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JA Solar Commits to Sell up to 60 Megawatts of Polycrystalline Photovoltaic
Cells to Solar Power, Inc. to Meet Growing Demand for Its Modules and Systems
ROSEVILLE, Calif.--(Business Wire)--
Solar Power, Inc. ("SPI") (OTCBB:SOPW) has entered into a one-year supply
agreement with JA Solar Holding Co., Ltd. ("JA Solar") (NASDAQ:JASO). JA Solar
has committed to supply up to 60 megawatts of its 6" polycrystalline
photovoltaic ("PV") cells based on monthly requirements from SPI. Based in
Hebei, China, JA Solar is one of the world`s top producers of high-performance
solar cells. The cells will be used for the ongoing production of SPI`s solar
modules and to meet growing demand for the company`s products in Europe, Asia,
and for turnkey systems in the United States. Supply to SPI begins immediately. 

"We are excited about our agreement with JA Solar. Their products are known for
quality and performance and we are very fortunate to be able to integrate them
into our own," said Steve Kircher, CEO Solar Power, Inc. "This is a true
strategic relationship with strong mutual benefit. It will allow us to leverage
our vertical integration business model through a significant amount of supply
and we will be able to offer competitive pricing that we believe is
unprecedented," Mr. Kircher added. "It also provides our SPI commercial
operations and our growing Yes! Solar SolutionsTM franchise network with strong
advantages in cost of installation and will have a significant positive effect
on our competitive position relative to international sales," Mr. Kircher
concluded. 

The agreement provides SPI with immediate supply of high-quality cells to meet
anticipated production requirements of the company`s family of solar modules
during 2009. "We are happy to be providing Solar Power, Inc. with cells for
their high-quality PV modules," said Mr. Samuel Yang, CEO of JA Solar Holding
Co., Ltd. "This agreement represents a strategic alliance between our company
and one of the leading solar solution providers in the world today. Through SPI
we will be able to expand sales of our cells and gain deeper penetration into
the U.S. market." 

About Solar Power, Inc.:

Founded in 2005, Solar Power, Inc. is a vertically integrated solar energy
solution provider offering the North American residential, commercial and public
sector building markets a complete solution through a single brand. With a state
of the art manufacturing facility in Shenzhen, China, Solar Power, Inc. provides
turnkey design-build solutions through its Roseville, California headquarters
and a growing retail distribution network. 

About JA Solar Holdings Co., Ltd.:

Based in Hebei, China, JA Solar Holdings Co., Ltd. is a manufacturer of high-
performance solar cells. The company sells its products to solar module
manufacturers who assemble and integrate its solar cells into modules and
systems that convert sunlight into electricity. For more information, please
visit http://www.jasolar.com. 

Safe Harbor Statement:

This release contains certain "forward-looking statements" relating to the
business of Solar Power, Inc., its subsidiaries and the solar industry, which
can be identified by the use of forward looking terminology such as "believes,
expects" or similar expressions. The forward looking statements contained in
this press release include statements regarding the Company`s ability to execute
its growth plan and meet revenue and sales estimates, enter into formal
long-term supply agreements, and market acceptance of products and services.
These statements involve known and unknown risks and uncertainties, including,
but are not limited to, general business conditions, managing growth, and
political and other business risk. All forward-looking statements are expressly
qualified in their entirety by this Cautionary Statement and the risks and other
factors detailed in the Company's reports filed with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required under applicable securities law. 



Solar Power, Inc.
Mike Anderson, Vice President Marketing, 916-745-0916
Manderson@solarpowerinc.net
or
HC International, Inc.
Ted Haberfield, Executive VP, 760-755-2716
thaberfield@hcinternational.net

Copyright Business Wire 2009

 

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