Trina Solar Limited (NYSE: TSL) (“Trina Solar” or “the Company”) announced that it has entered into a supply agreement with Longyuan (Tibet) New Energy Co., Ltd. (“Longyuan (Tibet)”) to supply an off-grid solar system project in the Northern Tibetan region of Naqu. The agreement marks an important milestone for Trina Solar in the domestic market, where the Company is expanding its commercial presence.
The 2.1 MW project is Trina Solar’s largest off-grid system project in China in recent years, following the construction of approximately 40 standalone power stations in 2002 in the Chamdo region of Tibet.
“We are very pleased to have been selected by Longyuan (Tibet) for the Naqu project,” said Jifan Gao, Chairman and CEO of Trina Solar. “Quality irradiance in this highly elevated region underscores its suitability for such a project. We are committed to providing quality products and excellent service in implementing this project, which we believe can benefit the local population.”
“This off-grid project, which differs from utility scale projects in terms of set-up and components, will use our specially-designed PC20 off-grid modules,” said Mark Kingsley, Chief Commercial Officer of Trina Solar. “We believe the off-grid market has the potential to bring another dimension of growth to the Company. These installations, believed to be one of the largest off-grid module orders in China, are especially suited for Tibet’s environment owing to its clean air, excellent sunlight, and challenges of rugged topography to extend traditional distributed power. We are especially pleased to be supplying our solutions in the Tibet Region, where our legacy projects from ten years ago are still improving lives.”
Naqu Prefecture is located in Northern Tibet, bordering with Xinjiang and Qinghai, with total area of more than 400,000 square kilometers. It is situated on an altitude of 4,500 meters. The territory possesses basins, lakes, rivers and forests, and as one of the few crop-producing areas of Tibet. With an average 2,900 sunlight hours per year, the region is highly suited to PV solar generation.
Naqu is one of the Tibetan areas lacking distributed grid power. Trina Solar hopes that the new off-grid project will alleviate the electricity shortages of the farmers and herdsmen, thereby improving the quality of life, while promoting local economic and social development in the region.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar’s products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar’s website at http://www.trinasolar.com.
About Longyuan (Tibet) New Energy Co., Ltd.
Longyuan (Tibet) New Energy Co., Ltd. is an affiliate of China Longyuan Power Group Co., Ltd. China Longyuan Power Group Co., Ltd. was founded in 1993 and is one of the pioneers focused on the exploration of new energy resources in China. The Company is primarily engaged in the design, development, construction, management and operation of wind farms. In addition to the wind power business, the Company also operates other power projects such as thermal power, solar power, tidal, biomass and geothermal energy. For more information, please visit www.clypg.com.cn/en.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s ability to raise additional capital to finance the Company’s activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the Company’s ability to operate as a public company; the period of time for which the Company’s current liquidity will enable the Company to fund its operations; general economic and business conditions; demand in various markets for solar products; the volatility of the Company’s operating results and financial condition; the Company’s ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
