CHANGZHOU, China, April 27, 2015 /PRNewswire/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic ("PV") modules, solutions and services, today announced that it has signed a strategic cooperation framework agreement with the Administrative Committee of the Hefei Xinzhan General Pilot Zone to develop up to 300 MW of distributed generation ("DG") solar power and related projects in Hefei, Anhui Province.
The first phase of the project consists of a 30 MW commercial rooftop project, on which the Company will start construction in the second quarter of 2015 and will be one of the largest single-unit commercial rooftop project in China once completed. The 300 MW project will be developed in Heifei City, a pioneer in promoting local DG solar power development and had a great amount of installed capacity of DG solar power in China as of the end of 2014. The Xinzhan General Pilot Zone is the primary area for PV industry development in Hefei, and will assist Trina Solar to gain local government support. In return, Trina Solar will use its leading technology, human resource, products, and industry leading position to help further develop DG solar power projects in Hefei.
"This partnership is a strong strategic fit and marks the first significant step in our journey to build on our DG solar power business this year," commented Mr. Jifan Gao, Chairman and CEO of Trina Solar. "China's ongoing efforts to promote clean energy with supportive policies and reinforcement of the DG solar power projects development have resulted in increasing awareness and recognition in the market for DG solar power projects. We are excited and ready to work with a partner who shares our aspirations for DG solar power development in China, and we believe our first mover advantage will position us well to excel in the DG solar power sector. Moreover, the favorable external environment combined with our strong track record, long-established brand recognition, state-of-the-art products and effective marketing, make us highly confident that we can deliver on our goal of expanding our footprint in the DG solar power market this year.
About Trina Solar Limited
Trina Solar Limited (NYSE:TSL) is a global leader in photovoltaic modules, solutions and services. Founded in 1997 as a PV system integrator, Trina Solar today drives smart energy together with installers, distributors, utilities and developers worldwide. The company's industry-shaping position is based on innovation excellence, superior product quality, vertically integrated capabilities and environmental stewardship. For more information, please visit www.trinasolar.com.
About Hefei Xinzhan General Pilot Zone
Hefei is the first city of PV in China by overall DG installation capacity as of the end of 2014, and has been a pioneer provincial capital city of China in promoting local DG development. Hefei Xinzhan General Pilot Zone, the main zone for PV industry development in Hefei, plays an important role in facilitating the development of Hefei's DG sector and the adaptation of PV products. Hefei Xinzhan General Pilot Zone also helps companies like Trina Solar to have their products covered by the PV Product Guideline Protocol of Hefei while liaising with local government to provide support.
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 its activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the Company's ability to operate as a public 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; demand in various markets for solar products; 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 in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or 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.
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SOURCE Trina Solar Limited
Trina Solar Signs Strategic Cooperation Framework Agreement with Hefei Xinzhan General Pilot Zone for 300 MW DG Solar Power Plant