Trina Solar Limited (TSL) has completed the shipment of solar modules, worth 11.7 megawatts (MW), for two ground-mounted solar photovoltaic (PV) projects in Turkey and Ecuador.
In the first project, 23,650 units of Trina Solar-made TSM-PC14 300W 72 cell modules will be utilized at Antalya region, a Turkey-based solar plant, expecting a total power generation capacity of 5.8 MW.
Trina Solar has also provided 9,193 units of TSM-PC05A 250W 60-cell Honey modules to the Ecuadorian project. The project is expected to have a total electricity production capability of 5.9 MW.
These latest shipments will allow Trina Solar to strengthen its footprint in the two emerging solar markets of Europe and Latin America.
Trina Solar’s module shipment volume is gradually rising due to higher demand of renewable energy which resulted from the growing awareness of its benefits for the environment. In the second quarter of 2014, the company’s module shipment volume stood at 795 MW, up 48.9% sequentially and 22.9% year over year. Trina Solar expects PV modules shipment volume in the third quarter to stand in the range of 1,060–1,120 MW.
In order to meet the increasing customer demand, Trina Solar is expanding its module manufacturing capacity. As of Jun 30, 2014, the company’s annualized manufacturing capacity increased by 0.6 gigawatt (GW) to 3.6 GW from the first-quarter end.
Trina Solar is currently following a strategic expansion program to diversify its operations globally by providing solar products as well as services and acquiring overseas assets, besides strengthening its presence in China and the U.S.
On Sep 10, 2014, Trina Solar inked an agreement to provide solar modules, worth 70-MW, to a large-scale solar power project in Chile.
As far as inorganic expansion programs are concerned, in Aug 2014, Trina Solar acquired a 49.9-MW project in the United Kingdom. This acquisition will allow the company to solidify its presence in the well-established British solar market as well.
In addition, Trina Solar has also begun expanding its operations in China. On Sep 2, 2014, the company entered into an agreement with Yunnan Metallurgical Group Co., Ltd., Kunming Yeyan New Material Co., Ltd. and Kunming Engineering & Research Institute of Nonferrous Metallurgy Co., Ltd. to acquire a 90% stake from the latter’s Yunnan Metallurgical New Energy Co., Ltd.
Trina Solar’s geographically diversified operations will help to expand its revenue streams and reduce country-specific risks.
Trina Solar currently holds a Zacks Rank #3 (Hold). However, some better-ranked stocks in the sector include Canadian Solar Inc. (CSIQ), ReneSola Ltd. (SOL) and Enphase Energy, Inc. (ENPH). Canadian Solar and ReneSola hold a Zacks Rank #1 (Strong Buy) while Enphase Energy carries a Zacks Rank #2 (Buy).
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