Trina Solar Acquires 90% Stake in Developer Yunnan MetallurgicalJustin Doom
Trina Solar Ltd., China’s largest profitable panel manufacturer, agreed to buy a 90 percent stake in the power-plant developer Yunnan Metallurgical New Energy Co.
The remaining 10 percent will be retained by the parent company Yunnan Metallurgical Group Co. and two of its units, Changzhou-based Trina said today in a statement. Terms weren’t disclosed.
Trina is expanding its efforts to build solar farms, including a 1-gigawatt project in the western Xinjiang region announced in December. Yunnan Metallurgical is developing a 300-megawatt solar plant in Yunnan province, with construction expected to begin this quarter, according to the statement.
“Developing strategic partnerships with select partners demonstrates our flexibility in exploring downstream opportunities in China,” Jifan Gao, chief executive officer of Trina, said in the statement.