Trina Solar announces new joint venture with China-based Tongwei Group

Trina Solar announces new joint venture with China-based Tongwei Group

by Nandita Bhardwaj

Trina Solar, one of the world’s leading PV and smart energy total solution provider, has reportedly announced plans to form a joint venture with global photovoltaic giant Tongwei Group to upgrade their 210 industrial series modules in a bid to secure a stronger supply chain ecosystem over the ensuing years.

As per the terms and conditions of the agreement, both companies will work together on four major project areas. The first area comprises a high-purity crystalline silicon project with a yearly output of 40,000 tons, and an ingot project anticipated to generate a yearly output of 15GW. There will also be a wafer-cutting project with a yearly output of 15GW. Moreover, both companies will also work on highly efficient crystalline silicon cell project with a yearly output of 15GW.

Speaking on which, Wu Qun who is the secretary of the board of directors at Trina Solar said that these key project investments are a key part of the company’s strategic development plan going forward. Both companies have reached an agreement on 210 series modules, and collaboration would further strengthen strategic partnership, he added.

Sources cite that total investment in the joint venture is expected to be worth USD 2.3 billion, with Trina gaining a shareholding ratio of 35 percent, and the complete registered capital contribution has set at USD 32 million.

Besides, Trina Solar will buy around 72,000 tons of polysilicon products till the end of 2023 from several Tongwei Group subsidiaries including Sichuan Yongxiang New Energy, Sichuan Yongxiang Polysilicon., Yunnan Tongwei High Purity Crystal Silicon, and Inner Mongolia Tongwei High Purity Crystal Silicon.

By 2021, Trina Solar aims to achieve around 50GW photovoltaic module production capacity, most of which will be at 210 module production capacities. In the forthcoming time, the company will continue to strengthen its scale advantages of cutting-edge module production capacity based on large size sales.

Source credit - https://www.prnewswire.com/news-releases/trina-solar-and-tongwei-group-complete-joint-venture-to-upgrade-210-integrated-industrial-chain-301176673.html

 

Nandita Bhardwaj

Having a marketing management post graduate degree under her belt, Nandita spent considerable time working in the field of recruitment. However, her real interest lay in playing with words and soon enough, she commenced her career in the field of content creation. Currently, she authors insightfuRead more...