Wells Fargo and JA Solar declared that they have entered into a strategic cooperation accord, which will assist JA Solar to improve its solar market presence in the US and in other worldwide markets.
Under the collaborative accord, Wells Fargo will offer JA Solar the needed support such as financing for JA Solar’s ventures to increase production, to promote project development and sales activities, and to provide commercial banking services. The financial details of the accord were not revealed.
According to Dr. Peng Fang, Chief Executive Officer of JA Solar, the accord proves the allegiance of JA Solar towards the U.S. solar markets and worldwide development of the solar industry. He explained that by taking advantage of Wells Fargo's proficiency in providing financial services and by utilizing the patronage enjoyed by JA Solar, the company is looking forward to advance its position in the potential U.S. solar market.
John Adams, Wells Fargo's executive vice president and head of Commercial Banking Technology Group, said that the company will dedicate resources exclusively to benefit the renewable energy market and is committed to sustain the financial requirements of the companies that offer clean energy alternatives and show interest to function in the U.S.