Daqo New Energy and JNE Solar announce solar module production JV

CHONGQING, CHINA: Daqo New Energy Corp., a leading polysilicon manufacturer based in China, and JNE Consulting Ltd announced a shareholders’ agreement between Daqo New Energy’s wholly-owned subsidiary, Daqo New Energy Holdings (Canada) Ltd, and, collectively with Daqo New Energy, and JNE’s affiliate, JNE Solar Inc. to build and operate a solar module production facility in Hamilton, Ontario, Canada.

In phase one of the project, the joint venture company intends to build a production facility with a capacity of 25 megawatts (MW) of photovoltaic (PV) module. Commercial production is expected to commence in the 4th quarter of 2011. Total investment for Phase One will be about CAD $5 million and will be initially contributed 85/15 by Daqo and JNE,

"We are excited about the unique opportunity of Canada PV module market" said Dr. Gongda Yao, CEO of Daqo New Energy. "We are also happy to have JNE as a partner in North America, which has extensive engineering service experience in Canada, providing engineering consulting service for several solar power projects, and is very familiar with the Canadian PV market."

Joe Ng, JNE’s CEO, commented: "We have been working with Daqo for many years and understand their philosophy and belief in quality. We also admire and respect the success Daqo New Energy, which within a short period of time, built its reputation as one of the best polysilicon material providers in China, as well as quality PV module provider for the worldwide PV market. By partnering with Daqo New Energy to capture the growing Canadian PV module market, we have laid a solid foundation for the future success of this new venture.”