JA Solar Holdings Co., Ltd has announced that China Export & Credit Insurance Corporation (SINOSURE) has provided export credit insurance to export around 300 MW of JA Solar modules to a PV project developed by the energy multinational ENEL S.p.A. in Brazil. The total amount insured is US$145m.
Bank of China and Banco Santander financed the purchase of the solar modules, while ENEL provided a loan guarantee and SINOSURE offered credit insurance.
This transaction demonstrates that the financial community recognises the quality and reliability of JA modules and feels confident in committing large amounts of capital to JA-powered projects. This transaction represents an important milestone for solar project development in emerging economies, as it provides a model for financing structures that can reduce the cost of capital and accelerate the pace of development. JA Solar looks forward to seeing this financing model support further solar deployment in Brazil and other emerging markets.