Trina Solar investment PTE. Ltd, a wholly-owned subsidiary of Trina Solar Co., Ltd. (hereinafter “Trina Solar”) signed a memorandum of understanding with SUMEC Complete Equipment & Engineering Co., Ltd. (hereinafter “SUMEC Complete Equipment”) for strategic collaboration to co-develop renewable energy projects across “the Belt and Road” countries.
Over the last few years, Trina Solar has emerged as a top-tier project developer worldwide. By the end of 2020, Trina Solar had over 5GW of project globally connected the grid, with another 7GW in the pipeline. SUMEC Complete Equipment affiliated with SUMEC Group Corporation specializes in project contracting, with accomplished projects widely recognized and praised by owners abroad. Both parties will make full use of their advantages and explore a new model of cooperation for overseas business expansion.
Trina Solar’s 35MW Trung Son Solar Power Plant in Vietnam
“The Belt and Road” countries are mostly developing countries that have growing power demands. Research showed the power generation in 2020 has increased by about 70%1 compared with 2016 in those countries. With the increased comparative advantage of renewable energy, “the Belt and Road” countries started to emphasize the development of renewable energy in response to the demands of power, energy security, and environmental protection. A report predicted that a total installed capacity of renewable energy from 2020 to 2030 in the 38 “the Belt and Road” countries is expected to reach more than 600GW2, suggesting a broad space for Chinese business expansion.
Lihao Gu, General Manager of the International Engineering department of SUMEC Complete Equipment said, “as two pioneers in China's renewable energy industry, Trina Solar and SUMEC Complete Equipment have a shared objective of overseas market development. We expect to facilitate the development of prospective projects by seizing the opportunity of ‘the Belt and Road’ countries’ energy transition.”
Simon Li, President and General Manager of Asia Pacific Business Unit (APBU) of Trina Solar said, “the MOU realizes reciprocity of Trina Solar and SUMEC Complete Equipment. Trina Solar has been engaging globally in solar project development for many years. So far, we have achieved many successful projects in the Asia-Pacific region such as Vietnam, South Korea, Australia, Laos, Cambodia, etc., and over 1.5 GW of projects in the pipeline. We look forward to a successful collaboration, hoping to improve the overseas business capability by leveraging SUMEC Complete Equipment’s abundant engineering experience.”