Solar module manufacturer Trina Solar Limited (TSL) will supply 23 MW of photovoltaic (“PV”) modules to Linuo Solar Power Co., Ltd.’s distributed generation ("DG") solar project located in China's Shandong province.
Per the agreement, Trina Solar will supply 92,000 Trina Solar TSM-250PC05A modules for the project and the shipment is expected to be completed by Jun 2014. The modules selected for the project have the ability to produce energy during low light and other challenging conditions. The maximum efficiency of these modules is 15.9%.
This solar plant will generate 2990 Kilowatt hours (kWH) of electricity annually and lower the emission of 28,674 tons of CO2 gas.
Trina Solar's Upcoming Projects in China
Besides the project mentioned above, Trina Solar is presently involved in other solar projects in China. The company started construction of the second phase of a 100 megawatt (“MW’) solar power plant in Wuwei (after completing the 50 MW phase one in 2013). The second phase is expected to be connected to the grid in the second half of 2014.
Trina Solar will also work on a 90 MW solar power plant in Toksun, Turpan Prefecture in Xinjiang.
The Chinese government has set a target of 8GW of DG solar project installations in 2014 to meet the increasing demand for clean energy. Trina Solar and other domestic solar operators are expected to gain from the increasing uptake of solar power in China.
The company is also planning to increase its solar product production capacity this year, given the bullish market trends.
Global Picture
The Chinese solar module producers are facing increasing resistance from foreign governments which are imposing anti-dumping duties on Chinese imports. The U.S. and EU have leveled anti-dumping tariffs on Chinese solar cell products to contain their wide proliferation and support homegrown solar interests. India too is treading a similar path.
In the light of global trade conflicts, the Chinese solar module producers are looking for more domestic support and new international markets to supply their products. The growing awareness of solar power usage across the globe is helping the Chinese producers to sell products to new international customers.
One of the largest solar module producers in China, Yingli Green Energy Holding Co. Ltd.’s (YGE) modules are being used in at least two main stadiums at the 2014 FIFA World Cup in Brazil.
Recently, China Sunergy Co., Ltd. (CSUN) entered into a partnership with KosiFrankensolar, a subsidiary of Germany's Frankensolar Group, to supply 50MW of polycrystalline modules for KosiFrankensolar’s Turkish projects.
Zacks Rank
Trina Solar, a Zacks Rank #3 (Hold) stock, has been working consistently to develop high performance solar cells. The company surpassed the Zacks Consensus Estimate in the last four quarters with an impressive average beat of 1031.9%.
Investors interested in the solar module space might consider JA Solar Holdings Co., Ltd. (JASO), currently sporting a Zacks Rank #1 (Strong Buy). The stock also surpassed the Zacks Consensus Estimate in the last four quarters with an average beat of 237.9%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment