CHANGZHOU, China, Oct. 22 /PRNewswire-Asia/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, announced today it has entered into a sales agreement with PROINSO ("Proyectos Integrales Solares S.L."), a leading distributor of solar photovoltaic equipment and a specialist in engineering services in Europe.
Under the terms of the agreement, Trina Solar will supply PROINSO with approximately 108 MW of PV modules at predetermined prices. PROINSO has an option to purchase an additional 12 MW in the first quarter of 2010. Shipments are expected to commence in the fourth quarter of 2009 and are scheduled to continue through the first half of 2010. The modules are expected to be used in solar projects in the European markets, including Italy and Spain. Shipment deliveries of 38 MW and 42 MW are expected to be made in the fourth quarter of 2009 and the first quarter of 2010, respectively.
"We are excited to be expanding our existing relationship with PROINSO, and we look forward to continuing this relationship into 2010 and beyond," said Ben Hill, Vice President of Sales and Marketing (Europe) at Trina Solar. "The combination of PROINSO's extensive experience and expertise in solar energy products, coupled with Trina Solar's recognized quality, will allow us to further increase market share in established markets across Europe."
"We are pleased to enter into this sales agreement with a well recognized manufacturer like Trina Solar," declared Mr. Gustavo Carrero, Marketing Director of PROINSO. "As one of Spain's leading distributors for solar photovoltaic equipment, we have chosen to partner with Trina Solar to bring their premium performance modules to major solar plant projects in Europe."
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
About PROINSO
PROINSO is part of the OPDE Group business group, which is comprised of the following companies: MECASOLAR, PROINSO, and OPDE. The group offers a complete solution that includes dual-axis solar tracker manufacturing, materials engineering and supply, installation and global development and construction of photovoltaic solar plants. The group offers an integrated service that spans the entire photovoltaic business value chain, imparting all of the experience gained from each segment of the value chain. For further information, please visit PROINSO's website at http://www.proinso.net .
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 the Company's activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; 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. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For further information, please contact:
Trina Solar Limited
Terry Wang, CFO
Phone: +86-519-8548-2009 (Changzhou)
Thomas Young, Director of Investor Relations
Phone: +86-519-8548-2009 (Changzhou)
Email: ir@trinasolar.com
Brunswick Group
Caroline Jinqing Cai
Tel: +86-10-6566-2256
Michael Fuchs
Tel: +86-10-6566-2256
Email: trina@brunswickgroup.com
