CHANGZHOU, China, June 9 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced that its subsidiary, Trina Solar (US) Inc., has signed a supply agreement with Southern California Edison ("SCE"), an Edison International Company (NYSE: EIX), one of the largest electric utilities in the United States. Initial shipments commenced in May 2010.
Under the terms of the agreement, Trina Solar is expected to supply SCE with 45 MW of PV modules at agreed prices with deliveries taking place between the second quarter of 2010 and the first quarter of 2011. The modules are expected to be used in SCE's large solar photovoltaic installation program, otherwise known as the SCE Solar PV Program.
SCE, authorized by the California Public Utilities Commission (CPUC), plans to cover up to 65 million square feet of unused Southern California commercial rooftops with 250 MW of the latest photovoltaic technology, which has sufficient capacity to meet the needs of approximately 162,000 US homes.
"This program is a milestone in utility-owned PV generation in the United States and Trina Solar is excited to play a significant part in supplying modules representing approximately 20 percent of the solar capacity needed for the program," said Mr. Jifan Gao, Chairman and CEO of Trina Solar. "This is a major commitment by SCE towards clean power generation, and the fact that they have chosen Trina Solar to supply them with premium performance modules is expected to further increase the Company's global reach and reputation for high quality products and raise brand awareness among key customers in the commercial and utility PV segment."
"We look to innovative companies like Trina Solar for solutions that benefit the environment and our customers," said Mark Nelson, SCE director, Generation Planning and Strategy. "We're glad Trina Solar can be a part of California's clean energy future."
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 its foundation in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have 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 Southern California Edison
An Edison International (NYSE: EIX) company, Southern California Edison is one of the nation's largest electric utilities, serving a population of nearly 14 million via 4.9 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California. For more information on the Southern California Edison's Solar Roof Program, please visit the following website at
http://www.sce.com/solarleadership/solar-rooftop-program/general-faq.htm .
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 period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; the volatility of the Company's operating results and financial condition; 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 in which the Company operates. 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, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors 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, Senior Director of Investor Relations
Phone: +86-519-8548-2009 (Changzhou)
Email: ir@trinasolar.com
Brunswick Group
Caroline Jinqing Cai
Phone: +86-10-6566-2256
Michael Fuchs
Phone: +86-10-6566-2256
Email: trina@brunswickgroup.com
