(Yicai Global) Nov. 17 -- JA Solar Technology said it plans to spend CNY10.2 billion (USD1.4 billion) to expand production capacity, so as to meet fast-growing demand for battery products amid a solar energy boom.

JA Solar has signed an agreement with the government of Shijiazhuang, capital of China’s Hebei province, and plans to build an integrated smart plant there in phases, the solar panel giant announced late yesterday.

It is the fourth capacity expansion plan with investment of over CNY10 billion announced by JA Solar in the past 12 months. The firm has invested CNY49.1 billion in the past year, developing projects in north, northeast, southwest and east China, as well as Vietnam.

The new plant will make products for the whole industrial chain including silicon wafers and cells for upstream and battery modules. It will also set up a photovoltaic technology research and development center, the firm said.

JA Solar did not provide further details such as annual capacity or the construction timetable, but it said the project can meet the company’s capacity expansion plans and improve its R&D strength to better satisfy demand from global clients for quality PV products.

In the first nine months, JA Solar sold 27.1 gigawatts of solar battery modules, hitting a record high and ranking fourth in the world. The company previously said it expects to reach an annual module capacity of 50 GW this year, rising to 75 GW in 2023 and with wafer and cell production capacity increasing accordingly.

JA Solar’s stock [SHE: 002459] closed down 2.2 percent at CNY58.69 (USD8.23) today.

Editor: Tom Litting