PV TechAugust 28, 2020491
‘Solar Module Super League’ (SMSL) member, Trina Solar has reported its first financial results since delisting from the New York Stock Exchange (NYSE) almost four years ago, starting with record first half year PV solar module shipments of 5,840MW, a 37% increase of the prior year period.
The solar company noted that despite global solar power demand declining in the first half of 2020, due to impact of COVID-19, Trina Solar was able to maintain production at its manufacturing operations across its facilities in China, Malaysia, Thailand and Vietnam.
Shipments in the first half of 2020 were almost equal to annual solar power shipments in 2016 and 2018, and nearly two-thirds of record shipments of 8,757MW in 2019. Trina Solar’s shipments excluded solar modules used in its in-house project development arm.
PV solar module shipments outside China grew strongly in the reporting period. The firm shipped 1,071MW to North America, primarily from its overseas facilities such as Vietnam, avoiding current import duties, an increase of over 238% from the prior year period.
Shipments to Europe were also strong with a 60% year-on-year increase to 1,720MW. The solar company also noted a 162% increase in shipments to Latin America, totalling 508MW. The solar company did not breakout shipments for Asia or China, specifically.
Trina Solar reported first half year operating income (revenue) of RMB12.54 billion (US$1.82 billion), an increase of 16.56% over the prior year period. Net profit in the reporting period (attributable to shareholders ) was RMB492.9 million (US$71.7 million), a year-on-year increase of 245.81%.
Recently, Trina Solar announced a new wave of solar cell capacity expansions that included adding 7.6GW of 210mm solar wafer-size capable cell line solar power capacity to its production plant in Yancheng, China, while upgrading a further 2.4GW of solar cell capacity at the site to process 210mm solar wafers, an initial 10GW of nameplate capacity dedicated to its latest large-area Vertex solar module.
Capacity will also be added in Malaysia, Thailand and Vietnam totalling 2.5GW. In total, Trina Solar expects to have 26GW of in-house cell and 28.4GW of solar module assembly solar power capacity by the end of 2021.
The solar company recent raised around US$360 million in a share offering to primarily fund initial capacity expansions related to a 3GW solar cell expansion at its Yiwu, China facility.
Input your address to see if it is solar friendly and how much you can save with solar.
Great. Your address is perfect for solar. Solar incentive is still available. Select monthly utility cost and calculate the size of solar system you will need now.
|kw System size||years Payback period||Lifetime savings|
No money down, 100% finance is available.
Interested in Getting a Solar Panel Installation? Sign Up Today!