Monday, January 10, 2011

Trina Solar to Invest $800 Million to Boost Manufacturing, R&D Capabilities in China

Trina Solar to Invest $800 Million to Boost Manufacturing, R&D Capabilities in China
 
One of the leading solar energy companies in the world, Trina Solar Limited (NYSE: TSL) has announced its plans to invest $800 milli0n over the next three years to develop a solar PV park in Changzhou, China.

The facility will boost the company's manufacturing and research & development capabilities. Trina is one of the few companies in the world which provides end-to-end solutions in the solar PV sector.

The company is involved in procurement of high purity polysilicon as well as recycling of waste silicon form electronics industry and its refinement; manufacturing silicon ingots which are the raw materials for manufacturing of silicon cells; assembling silicon cells into PV modules and; carrying out both large and small-scale solar PV installations.

Trina's subsidiary Changzhou Trina Solar Energy Co. Ltd generated revenue in excess of $1.5 billion in 2010. So the $800 million investment seems justified.

Trina currently manufactures monocrystalline and polycrystalline silicon solar modules but may look to produce solar cells based on other technologies as well, such as Thin Film or Organic-based.

Trina's Q3 results were above expectations with sales more than doubling to $508.3 million. The company also revised its shipment volume from 900-930 MW to 1,000 MW during 2010 which an increase of 151 percent from 2009 sales. The company also announced that it was on track to reduce module costs to less than $1 per watt.

The Q3 profit rose 108 percent to $82.9 million, primarily fueled by demand from Germany. Trina is also exploring other emerging solar energy markets in order to sustain the robust growth. Recently, the company announced completion of a 5 MW solar PV plant in Gujarat, India in partnership with one of the leading industrial groups.

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