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Trina Solar Announces Joint Venture with Yabang Group

            Trina Solar Announces Joint Venture with Yabang Group

JV to Expand Trina Solar's Module Manufacturing Capacity through Acquisition
of Existing Capacity

PR Newswire

CHANGZHOU, China, Nov. 29, 2013

CHANGZHOU, China, Nov. 29, 2013 /PRNewswire/ --Trina Solar Limited ("Trina
Solar" or the "Company"), a global leader in photovoltaic ("PV") modules,
solutions, and services, today announced that it has entered into an agreement
(the "JV Agreement") to establish a joint venture (the "Joint Venture") with
Yabang Investment Holding Group Co., Ltd. ("Yabang Group") to acquire certain
production assets from Changzhou NESL Solartech Co., Ltd. ("Changzhou NESL"),
a subsidiary of Yabang Group, which specializes in the production of solar PV
modules. The total investment by Trina Solar and Yabang Group is approximately
US$45 million which will be used for capital expenditure and working capital.
The Joint Venture aims to increase total solar module production capacity to
500 MW within the next 12 months.

The Joint Venture will acquire the existing module production assets of
Changzhou NESL, including plants, machinery and equipment, which will be
upgraded by utilizing the combined capital investment and international
expertise provided by Trina Solar and Yabang Group. The facility will be
managed by Trina Solar management, who will bring international best practices
in innovation, environmental standards, quality control and technological
expertise to the daily operation of the facility.

"We are delighted to enter into this Joint Venture Agreement with Yabang
Group," said Mr. Jifan Gao, chairman and CEO of Trina Solar. "As we expect the
demand for solar modules will continue to grow, particularly in China, Japan
and emerging markets, the Joint Venture will strengthen Trina Solar's market
position by delivering much needed extra module production capacity."

Mr. Gao added, "The Joint Venture will enable us to quickly and efficiently
increase production capacity in a cost-effective manner. This move
demonstrates Trina Solar's strategic approach to expanding capacity through
acquisitions as opposed to organic growth, which we believe will help ensure
the industry's existing capacity is being used productively. We are pleased to
have the opportunity to collaborate with Yabang Group on this important
partnership. This will not only benefit our customers by guaranteeing a supply
of high quality and reliable products, but will also promote a sustainable and
balanced solar industry in China."

Mr. Xiaochu Xu, chairman of Yabang Group, said, "We are very pleased to form
this strategic alliance with Trina Solar. The Joint Venture will take
advantage of the capital investment from both companies and Trina Solar's
experience in large-scale manufacturing, extensive expertise in R&D and its
global sales and marketing network, which will allow the new company to
accelerate the growth of the solar business."

According to the JV Agreement, the Joint Venture will be named Changzhou Trina
Yabang Solar Energy Co., Ltd. Trina Solar will hold a 51 percent stake in the
Joint Venture and Yabang Group will hold the remaining 49 percent. Trina Solar
and Yabang Group expect to complete the establishment of their joint venture
partnership by the end of 2013.

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 Yabang Investment Holding Group Co., Ltd.

Yabang Investment Holding Group Co., Ltd., headquartered in Changzhou,
Jiangsu, is a Chinese conglomerate engaged in businesses across multiple
industries, including chemical, pharmaceutical, logistics and real estate. The
group is among the top 500 Chinese enterprises covering an area of 500 million
square meters and with 15,000 employees. The group has achieved sales revenue
of approximately US$ 5.0 billion in 2011.

About Changzhou NESL

Founded in October 2006, Changzhou NESL has evolved into a national high-tech
enterprise focusing on the research, development, design and manufacturing of
monocrystalline and polycrystalline solar panels, BIPV modules and on-grid and
off-grid solar power systems. It holds a number of patents for solar PV
applications and products. Changzhou NESL has over 1,100 employees worldwide
and is able to provide comprehensive and efficient solar power system
solutions for customers across the globe.

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                     Brunswick Group
Terry Wang, CFO                         Ilse Schache
Phone: + (86) 519-8548-2008 (Changzhou) Phone: + (86) 10-6566-2256 (Beijing)
Email: trina@brunswickgroup.com
Yvonne Young
Head of Investor Relations
Phone: + (86) 519-8517-6878 (Changzhou)
Email: ir@trinasolar.com

SOURCE Trina Solar Limited

Website: http://www.trinasolar.com
Website: http://www.nesl.cn
 
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