CHANGZHOU, China, Jan. 6, 2015 /PRNewswire/ -- Trina Solar Limited
(NYSE: TSL) ("Trina Solar" or the
"Company"), a global leader in photovoltaic ("PV") modules,
solutions, and services, today announced it has successfully
completed the sale of its 13.2MW solar power project located in
Dorset, UK, to funds managed by
Foresight Group LLP ("Foresight"). This follows the successful sale
of a similar 10.6MW UK solar power project to the same buyer in
September of 2014.
Construction of the Homeland Solar Farm started in December 2013 with successful connection to the
grid in March 2014. The project
utilized approximately 52,000 high quality and durable Trina Solar
TSM-255-PC05A modules. The solar project is expected to deliver
clean and sustainable solar electricity of approximately 14,000MWh
per year and be capable of providing energy for 4300 homes in the
region. The project sale concluded at the end of 2014 with revenue
recognition in the fourth quarter of 2014.
"The successful sale of our second UK solar power project this
year demonstrates our growing presence in the UK market," said Mr.
Jifan Gao, Chairman and CEO of
Trina Solar. "It also once again
demonstrates our strong credentials and the capabilities of our PV
project team from initial project development to final project
completion. Global demand for clean and sustainable solar energy is
expected to continue growing in the coming year. We look forward to
steadily expanding the global footprint of our solar solution
business and will benefit from the industry growth
tremendously."
Ricardo Piñeiro, Head of UK Solar at Foresight added, "Our team
is delighted to have completed the acquisition of the Homeland
Solar Farm in Dorset from
Trina Solar, the second such
acquisition from Trina Solar in the
final quarter of 2014. This has rounded off a successful 2014,
which has seen Foresight's UK portfolio of operating solar plants
grow by more than 500%, to a generating capacity of more than
310MW."
About Trina Solar Limited
Trina Solar Limited (NYSE:TSL) is a global leader in
photovoltaic modules, solutions and services. Founded in 1997 as a
PV system integrator, Trina Solar
today drives smart energy together with installers, distributors,
utilities and developers worldwide. The company's industry-shaping
position is based on innovation excellence, superior product
quality, vertically integrated capabilities and environmental
stewardship. For more information, please visit
www.trinasolar.com.
About Foresight Group LLP
Foresight Group was established in 1984 and today is a leading
independent infrastructure and private equity investment manager
with over GBP1.3 billion of assets
under management. As one of the UK's leading solar infrastructure
investment teams, Foresight funds currently manage over
GBP930 million in more than 40
separate operating Photovoltaic ("PV") plants in the UK, the
USA, Italy and Spain. Foresight Group has offices in the UK,
the USA and Italy. For more information, please visit
www.foresightgroup.eu.
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 its 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.
For further information, please contact:
Trina Solar
Limited
|
Brunswick
Group
|
Teresa Tan, CFO
(Changzhou)
|
Rachael
Layfield
|
|
Phone: + (86)
10-5960-8600 (Beijing)
|
Email:
teresa.tan@trinasolar.com
|
Email:
trina@brunswickgroup.com
|
|
|
Yvonne
Young
|
|
Investor Relations
Director
|
|
Phone: + (86)
519-8517-6878 (Changzhou)
|
|
Email:
ir@trinasolar.com
|
|
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SOURCE Trina Solar Limited