Trina Solar Limited (NYSE: TSL) announced late last week it had signed a framework investment agreement to jointly develop 500MW-1,000MW of solar power plants in China over the next three years.
Trina Solar says the deal with PingAn Trust and Jiuzhou Investment will provide the company with an opportunity to further reinforce and expand its leading position in China’s PV market.
“We are excited to work with the leading company in the solar industry, and we believe the combination of the financing from the investors along with Trina Solar’s industry expertise will be a win-win for all parties,” said Mr. Yuhang Li, General Manager of Industry Department of PingAn Trust.
Jiuzhou Investment was a first round PE investor in Trina Solar prior to its initial IPO.
” As the world’s largest solar module manufacturer with an established global brand, Trina Solar has made steady progress in the downstream business in recent years. We view Trina as a trusted partner for our move into the solar energy business,” said Mr. Shijin Luo, President of Jiuzhou Investment.
Early this month, the company also announced it had been selected by Gestamp Solar to supply solar panels for a 42.5MW PV plant in Honduras. The 160,000 Trina Solar panels at the clean power station will generate 93 gigawatt hours of solar electricity each year; providing enough energy to supply the needs of 45,000 Honduran households.
In January, Trina connected its 90 MW solar farm located in Toksun, Xinjiang province, China to the mains grid, completed the sale of its 13.2MW solar farm in Dorset, UK and its State Key Laboratory Testing Center became the first testing center in the solar industry to receive the Power Measurement Uncertainty Assessment Service (“UAS”) Certificate from TUV Rheinland.
Trina Solar was founded in 1997, originally as a system installation company. Listed on the New York Stock Exchange in 2006, Trina has shipped more than 7.4GW of modules to destinations including Australia; where Trina is the most popular solar panel brand. Trina solar power system packages are available from national provider Energy Matters.
A ‘ solar panels‘ solar panel manufacturer, Trina was ranked number one on SVTC’s Solar Scorecard last year for its environmental and social performance.
