Trina Solar Ltd., a Chinese solar-panel maker, cut its forecast for 2011 shipments because customers in Europe have had difficulty financing projects.
Trina expects to deliver 1,400 megawatts of solar panels this year, down from August guidance of 1,750 megawatts to 1,800 megawatts, the Changzhou, China-based company said today in a statement.
Trina plans to release third-quarter results after the close of regular U.S. trading on Nov. 21 and will discuss them with analysts and investors on a conference call at 5 p.m. in New York.
Trina was up 9 cents to $8.14 at 9:09 a.m. in premarket trading in New York. The shares have declined 66 percent this year, compared to the Standard & Poor’s 500 Index 1.6 percent decline over the same period.