Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic ("PV") modules, solutions, and services, today announced that is has been named as the most ‘bankable’ PV module manufacturer globally by Bloomberg New Energy Finance (BNEF). In its survey of key PV stakeholders asked about 50 different module brands, 100% of respondents said that Trina Solar was bankable, confirming the Company's leading position in the solar PV market.
The report (available through BNEF subscription) details the findings of a survey conducted by BNEF to identify which module manufacturers are most likely to obtain non-recourse debt financing by commercial banks. Survey participants, which were banks, technical consultants, engineering contractors, asset managers and independent power producers (IPPs) from all around the world, were asked which PV module brands they considered bankable by their own internal criteria, which is usually based on product quality and the manufacturer's financial strength.
Trina Solar topped the list of 50 module manufacturers, being the only company that all survey respondents believed was bankable. The report also details how Trina Solar modules were used in more debt financed projects than any other manufacturer's modules since the start of 2014, having secured funding for more than 1.2GW for 15 different projects tracked by the BNEF database. The BNEF database is not fully comprehensive, but contains almost 14,000 solar financings worldwide.
Commenting on the report findings, Teresa Tan, Chief Financial Officer of Trina Solar, said: “The findings from this report are highly positive and we believe that they come as further confirmation of our leading position in the industry around the world. Trina Solar prides itself on the sustainability and strength of its way of doing business and this latest acknowledgement of our leading bankability comes as a logical result. We always strive to deliver bankable PV solutions that are innovative and that will provide the best returns for our customers. We have invested heavily, and will continue to invest, in the quality and performance of our PV modules to ensure that they can deliver the highest yields in the short and long term.
“As a company we are fully committed to furthering the advancement of affordable, clean and sustainable renewable energy across the globe, which has contributed to our success to-date. Trina Solar now stands as the largest manufacturer of PV modules in the world, and we fully intend on maintaining our market-leading position as we pursue further growth both in established markets and emerging ones.”
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-leading position is based on innovation excellence, superior product quality, vertically integrated capabilities and environmental stewardship. For more information, please visit 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 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
Teresa Tan, CFO (Changzhou)
Phone: 1 480 614 3014 (US)
Investor Relations Director