CHANGZHOU, China, June 30 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited (“Trina Solar” or the “Company”), a leading integrated manufacturer of photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that it has entered into a sales agreement with ERGYCA Power Srl, a subsidiary of GreenergyCapital SpA (collectively “GreenergyCapital”), an Italian company listed on the Milan Stock Exchange.
Under this fixed price three-year agreement, Trina Solar will supply GreenergyCapital with PV modules at a total value of US$158 million dollars.
"We are very pleased to have entered into this important agreement with GreenergyCapital, which allows us to further expand our well-recognized brand in the Italian market," stated Mr. Jifan Gao, Trina Solar’s Chairman and Chief Executive Officer. "We look forward to continue our long-term relationship with GreenergyCapital, as they expand their core business of producing and selling electrical power from renewable energy sources.”
“It is great to extend the support and recognition from GreenergyCapital after more than one year of business success with Energetica Solare SpA (a member of GreenergyCapital group). This agreement is a further testament to Trina Solar’s good quality and service and demonstrates the long-term growth prospects of the Italian PV market,” commented Arturo Herrero, Trina Solar Sales & Marketing Vice President.
Mr. Luca D’Agnese, CEO of GreenergyCapital SpA said, "This is the most important long-term agreement for our PV module supply. It is relevant for the strategy of GreenergyCapital and its controlled companies focused in PV power plant construction".
Italy’s current regulations and PV installations confirm it as one of the most attractive growth markets in the solar PV industry.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd, 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 currently one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. This integrated value chain helps to ensure that high quality products can be delivered to its end customers around the globe, including a number of European countries, such as Germany, Spain and Italy. Trina Solar’s solar modules provide reliable and environmentally-friendly electric power for residential, commercial, industrial and other applications worldwide. For further information, please visit Trina Solar’s website at http://www.trinasolar.com .
About GreenergyCapital
GreenergyCapital is a Milan-based investment company specialized in the fields of renewable energies and energy saving products. Established in 2007, the Company’s objective is to take advantage of the opportunities offered by the fast growing green energy business, both in Italy and Europe.
GreenergyCapital pursues a strategy of diversification of its investments by seeking a presence in several green technologies (i.e., solar, biomass, and wind energy) as well as various segments within the industrial value chain, ranging from basic technologies, plant construction and power generation.
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, Trina Solar’s ability to raise additional capital to finance its 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 companies 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 more information, please contact:
Trina Solar Limited
Terry Wang, CFO
Tel: +86-519-8548-2008 (Changzhou)
Thomas Young, Director of Investor Relations
Tel: +86-519-8548-2008 (Changzhou)
Email: ir@trinasolar.com
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Ed Job, CFA
Tel: +1-646-213-1914
Email: ed.job@ccgir.com
