Trina Solar Limited, an integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, announced that it intends to invest approximately $800 million over three years in Changzhou Trina PV Park.
The investments in Changzhou Trina PV Park from 2011 to 2013 will be made for the purposes of expanding the Company's manufacturing capacity and research and development facilities. The announcement was made during a ceremony held at the Changzhou Administration Centre on December 26 and attended by Mr. Zhang Wei Guo, Vice Governor of Jiangsu Province and Mr. Fan Yan Qing, CPC Secretary of Changzhou Municipal Committee.
The Company also announced that its wholly owned subsidiary Changzhou Trina Solar Energy Co. Ltd. surpassed the revenue milestone of 10 billion Renminbi for the calendar year 2010. This figure does not represent the consolidated revenue of Trina Solar Limited in 2010.
"We are pleased to announce the continuing investments in our capacity expansion and R&D within the Changzhou Trina PV Park to meet the increasing global demand for our PV products and brand," said Mr. Jifan Gao, Chairman and CEO of Trina Solar. "The investments will also include the establishment of our State Key PV Research Laboratory to accelerate the advancement and delivery of new technologies and products to solidify our position as a global PV industry leader."
"We are also proud that our local Changzhou operating entity surpassed the milestone revenue of 10 billion Renminbi for 2010, reflecting our on-going and successful execution of our business strategy and operations growth."
As announced on November 30, 2010, the Company reiterates its total 2010 PV module shipments to be approximately 1 GW, representing an increase of approximately 151% from the annual PV module shipments in 2009.