CHANGZHOU, China, Oct. 21, 2015 /PRNewswire/ -- Trina Solar
Limited (NYSE: TSL) ("Trina
Solar" or the "Company"), a global leader in photovoltaic
("PV") modules, solutions, and services, is pleased to announce
that, to date, it has successfully connected to the grid two thirds
of a 300MW ground-mounted solar project in Yunan, China ( the "Project").
As previously announced, through an open bidding process,
Trina Solar acquired a 90% stake in
Yunnan Metallurgical New Energy Co., Ltd, which has a 300MW project
under development in Southern
Yunnan province. Once fully operational, the project will
become the largest single utility-scale solar power plant in
Yunnan and one of the largest in
China.
Trina Solar commenced the
construction phase of the Project in the fourth quarter of 2014
with the deployment of its self-branded solar PV modules to the
barren hills of Jianshui County. After having connected 70MW of
modules to the grid in the second quarter of this year, the Company
surpassed the 200MW milestone by the end of the third quarter with
additional connection of 133MW. The electricity generated from the
project is being provided to a local industrial park and to farms
located in the surrounding area. The Project is eligible for a
20-year benchmark on-grid tariff of 0.95
RMB/KWh based on the present feed-in-tariff program in
China.
"Despite the fact that our Yunnan project is located in a topographically
challenging area, we are extremely pleased to announce that we are
proceeding on schedule," said Qi Lin, Vice President and
President of PV Systems Business Unit of Trina Solar. "This project demonstrates our
strong capabilities of executing our downstream strategy as we
continue to utilize our competitive advantages in module
manufacturing to develop high-quality and efficient solar farms in
select locations around the world. China has raised its solar installation target
for 2015 by 5.3 GW to 23.1 GW, which underscores the determination
of the central government to bolster the development of solar
energy. With this project and others, we are confident that we are
on the right track to meet our 2015 downstream guidance."
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.
Trina Solar
Limited
|
Christensen
IR
|
Teresa Tan, CFO
(Changzhou)
|
Linda
Bergkamp
|
Email:
teresa.tan@trinasolar.com
|
Phone: +1 480 614
3014 (US)
|
|
Email:
lbergkamp@ChristensenIR.com
|
Yvonne
Young
|
|
Investor Relations
Director
|
|
Email:
ir@trinasolar.com
|
|
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SOURCE Trina Solar Limited