On August 30, 2024, Trinasolar published its financial report for the first half of the year, announcing $6.047 billion in revenue and $74.058 of net profit attributable to the parent, marking two consecutive profitable quarters. Over this period, the company delivered 34GW in PV modules, 1.7GWh of DC container and energy storage systems (ESSs), and 3.2GW of solar mounting systems, highlighting its global leadership in smart PV and energy storage solutions.
Achieving robust growth in PV, solar tracker, and ESS business
In the first half of the year, Trinasolar shipped 34GW of modules, 25.9% more than the corresponding period last year. Its cumulative shipments of 210 modules exceeded 140GW, maintaining its top position worldwide. Trinasolar leads the industry in the 700W+ era with its Vertex N 720W series module, based on the 210mm product technology platform and n-type TOPCon advanced technology.
Trina Storage, a business unit of Trinasolar, takes a comprehensive approach to energy storage, providing solutions from cell to pack to container. It recently launched in North America its Elementa 2 Elevate solution, the industry’s only fully wrapped cell-to-AC energy storage solution. Trina Storage pioneers offering solutions for grid-scale shared energy storage stations, solar-storage integrated charging stations, and carbon-neutral industry parks. For three consecutive quarters this year, Trina Storage has been recognized as a Tier 1 energy storage supplier by Bloomberg New Energy Finance. By the end of June, Trina Storage had delivered about 7GWh of DC container and energy systems globally.
TrinaTracker serves major PV markets worldwide, with cumulative shipments exceeding 23GW by the end of June. Ranking sixth in global shipments and third in key countries and regions last year, TrinaTracker has established itself as one of the fastest growing companies, according to S&P Global. A report by Wood Mackenzie ranked TrinaTracker among the top three PV companies in South America, the Middle East, and other regions.
Giving R&D a central role
Trinasolar has invested over $381 million in R&D and had cumulatively filed 5,649 patent applications by the end of June. Trinasolar puts a high premium on its patents, with more than 500 patents on TOPCon technology by July.
The company is extending global collaboration with innovative partners to maintain core competence. In June, Trinasolar signed a long-term collaboration agreement with the Institute of Solar Energy at Universidad Politécnica de Madrid, and in August, it announced a research collaboration with the Agency for Science, Technology and Research, Singapore’s leading public sector R&D agency.
Ensuring stable supply worldwide
The company deploys global production capacity to meet burgeoning demands and guarantee worry-free global delivery. Trinasolar prospectively laid out a 1GW cell and module base in Indonesia and a 5GW state-of-the-art PV manufacturing facility in Wilmer, Texas, in 2023, both expected to operate in H2 2024.
Trinasolar, with its mission of “Solar Energy for All”, will continue to lead the industry with the latest technology and advanced products.