JA Solar Holdings Co., Ltd. (Nasdaq: JASO) ("JA Solar"), one of the world's largest manufacturers of high-performance solar power products, today announced the formal launch of its new subsidiary JA Solar Mexico SA de CV. ("JA Solar Mexico") in Latin America.
Latin American and the Caribbean markets are forecasted to have great potential in the coming years, especially the Mexican and Chilean markets. Latin America is expected to take 10% of the global PV demand by 2020. The installed solar capacity in Mexico is expected to exceed 40GW in 2021. In addition, distributed generation is taking a growing share of Latin America’s solar market, particularly in Mexico and Brazil. The new subsidiary will support JA Solar’s sales and marketing work in Latin America and the Caribbean, which demonstrates the company’s emphasis on the region.
Mr. Baofang Jin, chairman and CEO of JA Solar, commented, “JA Solar Mexico will expedite our pace diving into emerging markets throughout Latin America, as well as boosting our global presence. There is strong demand of high-efficiency and diversified photovoltaic modules in Latin America and the Caribbean. The new subsidiary enables us to provide distributors and clients with customized high-quality products and service.”