CHANGZHOU, China, Aug. 17, 2018 /PRNewswire/ -- Trina Solar (Vietnam) Science & Technology Co., Ltd. recently signed a comprehensive bank-enterprise cooperation agreement and a credit facility agreement with VietinBank Bac Giang Branch in the province of Bac Giang, Vietnam. The US$30 million credit will be primarily used to fund and finance the production and operation of Trina Solar's plant in Vietnam. It is VietinBank's first credit facility provided to a Chinese solar photovoltaic (PV) company, reflecting the Vietnamese market's confidence in Trina Solar.
Trina Solar (Vietnam) Science & Technology Co., Ltd. General Manager Tong Bin and VietinBank Bac Giang Branch president He Chunchang signed the agreement on behalf of their respective organizations.
VietinBank Head Office deputy General Manager and Executive Director Tran Minh Binh said, "We have witnessed Trina Solar plant's entire development journey from starting construction to going into mass production in Bac Giang. We at both the head office and the Bac Giang branch are confident in the partnership with Trina Solar, which is renowned for its operational efficiency and brand excellence. With the favorable new energy policies enacted by Vietnamese government, we have reasons to believe that Trina Solar will be a great success in Vietnam."
Founded in 1988, VietinBank was listed on the Ho Chi Minh City Stock Exchange in July 2009 and is one of Vietnam's four largest commercial banks. VietinBank ranks 13th on the VNR500 (Top 500) list.
Trina Solar Treasury Director Tian Hong added that Trina Solar will continue to increase its investment in Vietnam and extend the partnership with VietinBank to include investment in local downstream power stations and engineering, procurement and construction (EPC) services, with the aim of taking the partnership to the next level.
Trina Solar is one of the first Chinese firms to invest in Vietnam's PV industry. The solar PV cell plant, in which Trina Solar is the controlling shareholder, went into operation at Van Trung Industrial Park in Bac Giang in early 2017. The plant at that time became the largest solar PV cell manufacturing facility with a single-site capacity exceeding 1GW in the country.
About Trina Solar
As a leading global solar energy total solutions provider, Trina Solar is committed to becoming a worldwide leader in the world of energy IoT (internet of things). As of the end of 2017, Trina Solar's module shipments had exceeded 32GW, ranking first in the world. The company leverages smart applications to develop and roll out extensive proprietary energy solutions, including smart modules, energy storage systems, smart systems and smart operation and maintenance services. Trina Solar also provides its customers with one-stop system integration solutions encompassing project development, financing, design, construction, management and maintenance.
