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Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a
leading integrated manufacturer of solar photovoltaic (PV) products from
the production of ingots, wafers and cells to the assembly of PV modules,
announced that it intends to invest approximately $800
million over three years in Changzhou Trina PV Park.
The investments in Changzhou Trina PV Park
from 2011 to 2013 will be made for the purposes of expanding the Company's
manufacturing capacity and research and development facilities. The
announcement was made during a ceremony held at the Changzhou
Administration Centre on December 26 and
attended by Mr. Zhang Wei Guo, Vice Governor
of Jiangsu Province and Mr. Fan Yan Qing, CPC Secretary of Changzhou Municipal
Committee.
The Company also announced that its wholly
owned subsidiary Changzhou Trina Solar Energy Co. Ltd. surpassed the
revenue milestone of 10 billion Renminbi for the calendar year 2010. This
figure does not represent the consolidated revenue of Trina Solar Limited
in 2010.
"We are pleased to announce the
continuing investments in our capacity expansion and R&D within the
Changzhou Trina PV Park to meet the increasing global demand for our PV
products and brand," said Mr. Jifan Gao,
Chairman and CEO of Trina Solar. "The
investments will also include the establishment of our State Key PV
Research Laboratory to accelerate the advancement and delivery of new
technologies and products to solidify our position as a global PV industry
leader."
"We are also proud that our local Changzhou operating entity surpassed the milestone
revenue of 10 billion Renminbi for 2010, reflecting our on-going and
successful execution of our business strategy and operations growth."
As announced on November
30, 2010, the Company reiterates its total 2010 PV module shipments
to be approximately 1 GW, representing an increase of approximately 151%
from the annual PV module shipments in 2009.
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 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 athttp://www.trinasolar.com.
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 period of time for which the Company's
current liquidity will enable the Company to fund its operations; general
economic and business conditions; the volatility of the Company's operating
results and financial condition; 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 to 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.
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For further information, please contact:
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Trina Solar Limited
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Terry Wang, CFO
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Phone: +(86) 519-8548-2009 (Changzhou)
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Thomas Young, Senior Director of Investor
Relations
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Phone: +(86) 519-8548-2009 (Changzhou)
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Email: ir@trinasolar.com
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SOURCE
Trina Solar Limited
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