Trina Solar Expands into Canada
ONTARIO, July 10, 2012 /PRNewswire-Asia/ — Trina Solar Limited (NYSE: TSL) (“Trina Solar” or “the Company”), a leading integrated manufacturer of solar photovoltaic (PV) products from ingots to modules, today announced a new Ontario sales and business development office as the Company also announces a partnership with Silfab Ontario, enabling Trina Solar to offer world-class modules that are locally-manufactured for the Canadian market.
Trina Solar’s establishment of a Canadian subsidiary, Trina Solar (Canada) Inc., represents the Company’s commitment to the Canadian solar PV market. Fueled by a forward-thinking feed-in tariff, Ontario has become the second largest North American solar PV market after California.
“Trina Solar sees the Canadian market as an opportunity to expand our sales efforts and create local jobs by providing clean energy that fights global warming,” said Mark Paddison, Trina Solar’s newly appointed company representative who has nearly three decades of experience working in Canadian and American PV sectors. “We foresee strong growth for the Canadian industry that could reach 1GW by 2015. We look forward to participating more directly in the growth of the industry and to collaborating with our Canadian partners to bring solar PV to the next level of adoption and popularity.”
The Company establishes Trina Solar (Canada) Inc. on the heels of recognition by three organizations for its sustainable practices, corporate viability and field performance. The Silicon Valley Toxics Coalition, in its annual global review of sustainable manufacturing practices, ranked the Company first among solar panel manufacturers throughout the world. The Company also placed first in PRTM’s Sustainable Growth Index Field Performance, indicating the company’s strong financial outlook. Finally, Trina Solar’s panels placed first on the California Energy Commission’s PTC/STC ratio that estimates real-world panel performance.
“Trina Solar’s world-class modules have proven that they deliver the performance that customers need,” said Mark Kingsley, Trina Solar’s Chief Commercial Officer. “Bringing our award-winning modules will help the Canadian market grow and is the perfect extension of our commitment to solar in all of North America.”
Trina Solar enters Canada with a strong panel portfolio that includes the company’s new Honey technology. Developed with advances in multicrystalline cell technology, Trina Solar’s new Honey modules deliver world record-setting power output. These results firmly establish the high performing Honey panels as best in their class.
Along with Trina Solar’s new presence in Canada, Trina Solar, through its subsidiary Trina Solar Energy Development Pte. Ltd, has signed an OEM partnership for final assembly with Silfab Ontario, a Canadian company with headquarters in Mississauga, Ontario. Trina Solar conducted an extensive review process that involved internal and external supply chain and quality control teams to verify that Silfab meets Trina Solar’s rigorous standards. As a Trina-certified supply chain partner, Silfab is expected to supply Trina Solar with sufficient production capacity to support the Canadian market throughout the partnership.
“We have found a reliable and experienced partner in Trina Solar, a company that shares our belief in long-term collaboration,” said Franco Traverso, Silfab Ontario founder. “Our mutual commitment to producing world-class quality products is the basis of our partnership. Together, we can work to best serve one of the most challenging and fastest growing PV markets in the world.”
This partnership is part of Trina Solar’s long-term strategy for Canada. The Company seeks to build strong customer relationships and work with a network of downstream PV companies to help grow the Canadian solar industry.
All parties interested in learning more about Trina Solar’s locally-manufactured modules for the Canadian market may contact Mark Paddison at email@example.com.
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 Silfab Ontario Inc.
Silfab Ontario Inc. is a Canadian subsidiary of international PV solution provider Silfab Spa, an Italian company founded by Franco Traverso, a solar energy pioneer with over 30 years of experience in the photovoltaic industry. Headquartered in a 100,000+ sq. ft. facility in Mississauga, Silfab fully-automated solar module manufacturing plant started production in April 2011 with an annual initial capacity of 90 MW and a plant facilitation and layout for 180MW.
In addition to manufacturing Silfab’s own high efficiency multi- and mono-crystalline solar modules with power-output up to 320 Wp, part of the production capacity is also devoted to the assembly of solar modules on behalf of OEM partners, seeking certified products compliant with the Ontario Power Authority’s FIT domestic content requirements.
Equipped with the most advanced technologies, Silfab Ontario operates within Silfab’s international vertically-integrated supply chain of global partners and shareholders – a strategic network of companies that guarantee consistent availability of raw material and components during the entire production period – from high-performing ingots to wafers and cells – enabling it to be one of the few companies to offer highly competitive products at a competitive price. For further information, please visit Silfab Ontario’s website at http://www.silfab.ca
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.
For financial-related inquires or financial-related media, please contact: Trina Solar Limited Brunswick Group Terry Wang, CFO Michael Fuchs Phone: + (86) 519-8548-2009 (Changzhou) Phone: + (86) 10-6566-2256 Thomas Young, Vice President, Investor Relations Email: firstname.lastname@example.org Phone: + (86) 138-6118-3779 (Global) Email: email@example.com For solar industry-related media, please contact: Tigercomm Public Relations JB Tengco Phone : + (1) (415) 292 4314 Email : firstname.lastname@example.org
SOURCE Trina Solar Limited