Solar photovoltaic (“PV”) module manufacturer Trina Solar Limited (TSL) has announced the completion of its sale of a 13.2 megawatt (“MW”) solar power project to funds managed by Foresight Group LLP in Dorset, UK.
This Homeland Solar Farm employs 52,000 high quality and durable TSM-255-PC05A modules from Trina Solar. Capable of powering 4,300 homes in the region, this project is set to provide 14,000 megawatt hour (MWh) of solar electricity annually.
This project commenced construction in Dec 2013 and was successfully connected to the grid in Mar 2014. The transaction was completed at the end of 2014 and the financial impact will be reflected in the company’s fourth quarter results.
With various data providers projecting renewable demand to climb in the UK in 2015, China-based Trina Solar is strengthening its solar module supply in the country. The company had previously supplied solar modules to the same buyer.
In Oct 2014, Trina Solar sold 10.6 MW PV power plant to funds managed by Foresight Group. The company used 41,404 units of its TSM-255-PC05A modules at the Trehawke power plant. The facility has an electricity generation capacity of 10,300 MWh annually (read: Trina Solar to Sell 10.6-MW Power Plant to UK Firm).
Besides supplying solar products, Trina Solar is also expanding its operations in the UK through an inorganic growth strategy. In Aug 2014, the company acquired a 49.9-MW project in the UK.
While the UK looks to be a growing solar market, the U.S., on the other hand, is planning to impose new import duties on solar panels and other related products from China and Taiwan. This could dampen Trina Solar’s and other Chinese solar module manufacturers like JinkoSolar’s (JKS) export opportunities.
Trina Solar currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the solar industry include JA Solar Holdings Co., Ltd. (JASO), sporting a Zacks Rank #1 (Strong Buy) and STR Holdings, Inc. (STRI), carrying a Zacks Rank #2 (Buy).
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