Trina Plans IPO of `Growthco' to Manage Solar Farm Developments
- Business would be alternative to `yieldco' popular in U.S.
- Subsidy delays in China leaves outlook for income uncertain
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Trina Solar Ltd., the world’s biggest manufacturer of photovoltaic panels, plans an initial public offering of a “growthco” unit that would absorb capital-intensive solar farms it develops.
Chief Financial Officer Teresa Tan said the new entity would be focused on expansion, a contrast with the “yieldco” model adopted by U.S. companies that pays investors dividends from solar farms that are operating and generating a steady flow of income.