Trina Solar to Supply 60MW of PV Modules Including 25MW of Trina's Innovative Dual Glass Modules to Xinyi Solar in China
Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic ("PV") modules, solutions, and services, announced it will supply 60MW of PV modules to Xinyi Solar Holdings Limited ("Xinyi Solar"), one of the world's largest solar PV glass manufacturers, for its utility scale and agricultural greenhouse solar projects in Anhui, China.
Xinyi Solar will utilize 5MW of Trina Solar's TSM-PC05A modules, 30MW of TSM-PC14 modules, as well as 25 MW of the Company's state-of-the-art dual glass TSM-PDG5 modules. The PDG5 dual glass solar panel will be used as a roof bracing piece for an agricultural greenhouse located within Xinyi Solar's power plant in Anhui province. Compared to conventional modules, dual glass PDG5 modules provide appropriate transmittance of sun light, which better maintains greenhouse temperatures and its high performance in harsh environments offers resistance to the use of pesticide sprays in the greenhouse. Shipment of the modules is expected to be completed by August 2014.
"We are pleased to be working with our long term strategic partner Xinyi Solar to support its continuing solar project development in China," said Zhiguo Zhu, Module Business Unit President of Trina Solar. "Following the launch of our PDG5 module in early 2013, Trina Solar has received significant interest from both existing and prospective customers due to its superior value proposition and numerous unique features. With an extended 30-year warranty, our modules will be able to maintain a stable output throughout the course of their life time, which we believe will ultimately generate high returns for our customers."
Wesley Lee, CEO of Xinyi Solar, said, "We chose to partner with Trina Solar because they not only offer a wide range of diverse products but also due to their continued efforts in R&D and innovation. We believe Trina's high quality dual glass solar modules are the best fit for our project needs out of the products currently available on the market for our project. We look forward to continuing to work closely with Trina Solar as we develop our downstream business across China."
Trina Solar's PDG5 is a UL/IEC certified frameless module that comprises two layers of 2.5mm heat-strengthened glass. By replacing the plastic backsheet with heat-strengthened glass, PDG5 provides UL Fire Class A safety and reduces micro-cracking, Potential Induced Degradation (PID), module warping, UV aging, and corrosion from sand, acid, alkali and salt mist. The PDG5 is optimized for reliable performance under stressful environmental conditions and is among the most durable modules on the market. Additionally, by eliminating the aluminum frame of conventional modules, grounding requirements are eliminated, which can extend Balance of System (BoS) cost savings for Trina Solar's customers.
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.
About Xinyi Solar Limited
Xinyi Solar is one of the largest solar PV glass manufacturers in the world. The company (HK:00968) listed on the main board of the Hong Kong Stock Exchange in December 2013. It is specialized in R&D, manufacturing, sales and after-sale service of solar PV glass, and provides the most economical and efficient products for solar application system. For more information, please visit http://www.xinyisolar.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.