Trina Solar Limited Announces the Retirement of Jerome Corcoran and Henry Wai Kwan Chow from the Board of Directors
Jun 29 15
Trina Solar Limited announced that Mr. Jerome Corcoran and Mr. Henry Wai Kwan Chow will retire from the Board of Directors of the company, effective from August 4, 2015, and will not offer themselves for re-election.
Trina Solar Limited Provides Osaka Sangyo University with its Interdigitated Back Contact Cells to Build Solar Car
Jun 1 15
Trina Solar Limited announced that it provided Osaka Sangyo University with its newly developed Interdigitated Back Contact (IBC) cells and modules for OSU's Solar Car, the "OSU-Model-S". The OSU-Model-S is fueled solely by solar power which is converted into electricity via 565 highly efficient solar cells, and has just finished its first test run in Shirahama Old Airport, Wakayama Prefecture, Japan. The IBC cells provided by Trina Solar have demonstrated efficiencies up to 24.4% in laboratory tests and 23.1% in pilot industrial production. The OSU-Model-S will compete in early August in the IFA Suzuka Solar Car Race.
Trina Solar Signs Memorandum of Understanding on Cooperation with Welspun
May 29 15
Trina Solar, signed a memorandum of understanding on cooperation with Welspun. Under the terms of the agreement, both companies will collaborate to build a large solar industry park in India that will house a 1GW solar panel project and 1GW solar module manufacturing project.
Trina Solar Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Production and CapEx Guidance for the Year 2015
May 21 15
Trina Solar Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net revenues of $558,089,000, operating income of $29,154,000, income before income taxes of $18,888,000, net income attributable to company of $13,913,000 or $0.16 per basic and diluted share compared to the net revenues of $444,811,000, operating income of $38,245,000, income before income taxes of $32,884,000, net income attributable to company of $26,508,000 or $0.37 per basic and diluted share for the same quarter year ago. Capital expenditure in the first quarter was $8 million on the module business and $100 million on the downstream business, including $21 million spent on U.K. projects that intend to sell.
The company provided production guidance for the year 2015. The company expects to achieve Ingot production capacity of approximately 2.2 GW, Wafer capacity of approximately 1.7 GW, PV cell capacity of approximately 3.5 GW and Module capacity of approximately 4.8 GW. The company expects total PV module shipments to be between 4.4 GW and 4.6 GW, of which 700 MW to 800 MW of PV modules will be shipped to the company's downstream projects. The total shipment volume represents an increase of 20% to 26% from 2014. The company expects to ship between 1,100 MW to 1,140 MW of PV modules, of which 150 MW to 170 MW of PV modules will be shipped to the company's downstream PV projects, revenues of which will not be recognized.
CapEx for module business is expected to be around $300 million to $350 million this year. As for CapEx for the module business, one of the main expansion projects is the recently announced plan to add 700 megawatt of cell and 500 megawatt of module capacity in Thailand. Total CapEx needed for downstream project is expected to be around $1 billion. Module business to generate strong positive operating cash flow. Module business operating cash flow is expected strong for the year.
Trina Solar Announces Establishment of New Manufacturing Base in Thailand to Add 500 MW Module and 700 MW Cell Capacity
May 6 15
Trina Solar Limited announced that it has set up Trina Solar Science & Technology (Thailand) Ltd., a subsidiary company in Thailand to build a manufacturing facility with 500 MW of module and 700 MW of cell production capacity. Trina Solar will invest $160 million in the facility, which is located in Rayong of Thailand. Production is projected to commence in late 2015 or early 2016.