CHANGZHOU, China, Aug. 25 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar
Limited (NYSE: TSL) (''Trina Solar'' or the ''Company''), a leading integrated
manufacturer of solar photovoltaic products from the production of ingots,
wafers and cells to the assembly of PV modules, founded in 1997, today
announced that its subsidiary, Changzhou Trina Solar Energy Co., Ltd., has
signed a supplemental agreement to the long-term polysilicon supply agreement
with a subsidiary of GCL Silicon Technology Holdings Inc. (collectively, ''GCL
Silicon Technology'').
Together with the original supply agreement announced in April of this
year, GCL Silicon Technology will supply Trina Solar with virgin polysilicon
and wafers sufficient to produce approximately 4,825 MW of solar modules in
aggregate over eight years. Delivery of polysilicon at predetermined prices
started in April of 2008.
''This supplemental agreement greatly extends our advantage in securing
high quality polysilicon feedstock at predetermined prices to support our
long-term sales growth. Combined with our other long-term agreements and
increased manufacturing efficiencies, we remain confident in our abilities to
expand our margins in the long term as the cost of solar energy approaches
grid parity levels,'' said Jifan Gao, Trina Solar's Chairman and Chief
Executive Officer.
''Further, the supplemental agreement's inclusion of significant wafer
quantities, starting in 2010, reflects a significant revision to our capacity
expansion strategy, whereby future expansion will involve increased cell and
module capacity additions relative to those for ingot and wafer. We believe
that this flexible strategy will offer increased output of solar modules to
achieve better market penetration under our increasingly recognized brand.
This will also allow us to place our technology improvement emphasis on cell
and module value areas to further strengthen our brand. For 2009, we intend
to leverage on this dynamic strategy to efficiently extend our capacity growth
to approximately 700MW for cell and module areas, while expanding ingot and
wafer production capacities to approximately 500MW.''
''Trina Solar is an important strategic customer and we are encouraged by
their progress made so far,' said Hunter Jiang, CEO of GCL Silicon Technology.
'GCL Silicon Technology remains committed to expand its production capacity to
meet the growing demand from customers such as Trina Solar.'
This supplemental supply agreement will further increase the Company's raw
material supplies and enhance its cost structure, and therefore strengthen its
position as a leading global PV manufacturer.