Trina Solar announced that it has signed a share purchase agreement to sell the company's 10.6MW PV power plant located in Trehawke, UK to funds managed by Foresight Group LLP. This is the first of two Trina Solar UK projects that connected to the grid in Q1 2014.
The utility-scale Trehawke solar power plant utilizes 41,404 Trina Solar TSM-255-PC05A module. The solar power plant generates 10,300 MWh of electricity every year. In addition, the revenue from the sale of the Trehawke power plant is expected to be recognized in Q3 2014.
"The transaction is consistent with Foresight's strategy to invest in high quality operational assets built by world-leading tier one solar power system developers, such as Trina Solar and which offer stable returns for our investors,” said Ricardo Piñeiro, Director and Head of UK Solar at Foresight.
"This is an exciting step forward for Trina Solar's overseas downstream expansion and underscores our continued momentum in the UK," said Mr. Jifan Gao, CEO of Trina Solar. "Successful completion of this sale will allow us to redeploy resources on other projects and to further expand our pipeline in the UK. We currently have an additional 49.9MW project under construction in the UK expected to be completed in Q1 2015, which has attracted the interest of several potential buyers. We look forward to more sales in the near future"