CHANGZHOU, China, June 30, 2011 /PRNewswire-Asia-FirstCall/ -- 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 that through its subsidiary, Trina Solar (Spain) S.L.U., it has signed a sales agreement with Gestamp Asetym Solar, S.L. ("Gestamp Solar"), a well-established Spanish-based developer of large-scale solar energy projects, to power Renault's manufacturing plants in France.
Under the terms of the agreement, Trina Solar is expected to supply Gestamp Solar with 55 MW of the Company's solar modules. Deliveries are set to commence in June and extend through November 2011 at agreed prices set in US dollars. These modules are expected to be installed on Renault's manufacturing sites in France, including Douai, Maubeuge, Flins, Batilly and Sandouville.
Upon completion of the project, Trina Solar's modules are expected to cover approximately 415,000 square meters of parking lots shelters, equivalent to approximately 55 European football fields. Annual electricity production is estimated to be sufficient to power the needs of a city of approximately 14,000 inhabitants.
"We are very pleased to announce our continued collaboration with Gestamp Solar on the largest solar photovoltaic project in the automotive industry," said Ben Hill, Trina Solar's Vice President of Sales and Marketing in Europe. "We are glad to combine our high quality modules and premium service to deliver cost-effective PV solutions for Renault's manufacturing sites in France, and raise awareness of the widespread adoption of solar energy."
"Gestamp Solar is excited to partner with Trina Solar, a vertically integrated Tier-one solar manufacturer," said Alfredo Gonzalez-Izquierdo, Production Director of Gestamp Solar. "Trina Solar's industry leading solar reliability and quality matches perfectly with our mission to provide global services to our clients and become a leading company in all stages involved in the development of the solar business."
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 at http://www.trinasolar.com.
About Gestamp Solar
Gestamp Solar, the photovoltaic energy subsidiary of Gestamp Renewables, works at all levels in the value chain in photovoltaic solar energy development, from the conception and industrialization of metallic structures through to the definition and delivery of "turnkey" projects. Gestamp Solar has thus far taken part in the development of more than 300 MW of photovoltaic energy and has a portfolio of 550 MW through 2013 in France, Spain, Italy, the USA, India and South Africa. For further information please visit www.gestampsolar.com.
The Renault Group, present in 118 countries, designs, develops, manufactures and sells a broad range of vehicles. Its full range of electric vehicles accessible to all is the standard-bearer of its environmental commitment. Renault pursues its strategy of profitable growth under the Renault, Dacia and Renault Samsung Motors brands. The Renault group employs 121 000 people worldwide, reported a net revenue of EUR38,971 and has sold more than 2.6 million vehicles in 2010.
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.
For further information, please contact:
Trina Solar Limited
Terry Wang, CFO
Caroline Jinqing Cai
Phone: + (86) 519-8548-2009 (Changzhou)
Phone: + (86) 10-6566-2256
Thomas Young, Senior Director of Investor Relations
Phone: + 1(408) 459-6706 (San Jose)
Phone: + (86) 10-6566-2256
SOURCE Trina Solar Limited