CHANGZHOU, China, May 6, 2015 /PRNewswire/ -- Trina Solar Limited
(NYSE: TSL) ("Trina Solar" or the
"Company"), a global leader in photovoltaic ("PV") modules,
solutions, and services, today announced that it has set up Trina
Solar Science & Technology (Thailand) Ltd., a subsidiary company in
Thailand to build a manufacturing
facility with 500 MW of module and 700 MW of cell production
capacity. Trina Solar will invest
US$160 million in the facility, which
is located in Rayong of Thailand. Production is projected to commence
in late 2015 or early 2016.
Mr. Zhiguo Zhu, COO and President
of Module Business Unit of Trina
Solar, commented: "Thailand
is an ideal location for us to build a new manufacturing base due
to its proximity to key emerging markets in the Asia Pacific region as well as its favorable
investment environment in terms of land acquisition and labor
costs. The new factory will serve to diversify and expand
Trina Solar's existing manufacturing
capacity to meet growing demand from both our established key
markets and emerging markets. We believe diversifying our
global manufacturing capacity will allow us to better leverage
resources more cost effectively, enhance our competitiveness in
overseas markets and enable us to increase our global market share.
Besides, Thailand is also a
particularly attractive PV market given its sunny environment,
long-term PV subsidies, and favorable government policies towards
the solar sector. We are also very delighted that our
investment in the region will help create jobs and support local
economic development, as well as further develop the solar industry
in Thailand."
About Trina Solar Limited
Trina Solar Limited (NYSE:TSL) is a global leader in
photovoltaic modules, solutions and services. Founded in 1997 as a
PV system integrator, Trina Solar
today drives smart energy together with installers, distributors,
utilities and developers worldwide. The company's industry-shaping
position is based on innovation excellence, superior product
quality, vertically integrated capabilities and environmental
stewardship. For more information, please visit
www.trinasolar.com.
Safe Harbor Statement
This announcement contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's ability to
raise additional capital to finance its activities; the
effectiveness, profitability and marketability of its products; the
future trading of the securities of the Company; the Company's
ability to operate as a public company; the period of time for
which the Company's current liquidity will enable the Company to
fund its operations; general economic and business conditions;
demand in various markets for solar products; the volatility of the
Company's operating results and financial condition; the Company's
ability to attract or retain qualified senior management personnel
and research and development staff; and other risks detailed in the
Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the
industry in which the Company operates. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these forward
looking statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and the Company cautions
investors that actual results may differ materially from the
anticipated results.
For further information, please contact:
Trina Solar
Limited
|
Christensen
IR
|
Teresa Tan, CFO
(Changzhou)
|
Linda
Bergkamp
|
|
Phone: +1 480 614
3014 (US)
|
Email:
teresa.tan@trinasolar.com
|
Email:
lbergkamp@ChristensenIR.com
|
|
|
Yvonne
Young
|
|
Investor Relations
Director
|
|
Email:
ir@trinasolar.com
|
|
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SOURCE Trina Solar Limited