{"id":6089,"date":"2016-03-29T08:39:00","date_gmt":"2016-03-29T08:39:00","guid":{"rendered":"https:\/\/cleanenergyworld.net\/index.php\/2016\/03\/29\/thailand-trina-solar-begins-pv-production-700mw-annual-cells-capacity\/"},"modified":"2016-03-29T08:39:00","modified_gmt":"2016-03-29T08:39:00","slug":"thailand-trina-solar-begins-pv-production-700mw-annual-cells-capacity","status":"publish","type":"post","link":"https:\/\/cleanenergyworld.net\/index.php\/2016\/03\/29\/thailand-trina-solar-begins-pv-production-700mw-annual-cells-capacity\/","title":{"rendered":"Thailand: Trina Solar Begins PV Production With 700MW Annual Cells Capacity"},"content":{"rendered":"
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Trina Solar Limited<\/a>, a global leader in photovoltaic (PV) modules, solutions, and services, has announced the official launch of operations at its new manufacturing facility in Thailand<\/span>. The Company also announced that it has signed a financing facilities agreement for an aggregate amount of approximately US$143 million<\/span> with a consortium of banks led by\u00a0The<\/span> Siam Commercial Bank Public Company Limited (SCB<\/a>), one of the top three domestic banks in Thailand<\/span>.<\/p>\n

The manufacturing facility, located in Rayong, Thailand<\/span>, has entered production using Trina Solar’s<\/span>\u00a0“Honey” state of the art high-efficiency assembly line method. \u00a0Annualized \u00a0production capacity for modules at the facility is 500 MW, and could be further ramped up to over 600 MW depending on overseas market demand. Annualized production capacity for cells is 700 MW. So far, the facility has achieved every milestone on schedule, from groundbreaking to production to serving the Company’s overseas markets, which is expected to occur by the end of March.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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To finance the capital expenditure of the new production facility, Trina Solar<\/span> has signed a syndicated loan agreement for a total of US$100 million<\/span> with<\/span> SCB and China Minsheng Banking Corporation Ltd. (CMBC)<\/a>, maturing in June 2020<\/span>. In addition, according to the agreement<\/span>, the Company has been granted a line of credit by SCB for THB 1.53 billion<\/span> (approximately US$43 million<\/span>), which will be used for working capital.<\/p>\n

“We are pleased to announce the official launch of our new facility in Thailand<\/span> as scheduled. The investment in Thailand<\/span> fits our strategy of prudent capacity expansion in<\/span> select overseas markets to deliver industry leading products to customers in the US and Europe<\/span> in particular as we strive to increase the profitability of the company,”<\/span> said Mr. Jifan Gao<\/span>, Chairman and CEO of Trina Solar<\/span>.<\/p>\n

“The US$143 million<\/span> in financing agreement in support of our Thai operations is a great vote of confidence from both SCB and CMBC in our brand and our overseas expansion strategy.\u00a0We look forward to cooperating further with these two first tier banks in our other strategic initiatives,” said Mr.<\/span> Gao.<\/p>\n

“This and other major Trina Solar’s<\/span> projects in the pan-Asia<\/span> region also align the Company with the Chinese government’s key strategic initiative, ‘One Belt, One Road,’ connecting Asian economies for their mutual benefit. We are also pleased to help further advance the development of clean energy in more countries around the world,<\/span>” concluded Mr.<\/span> Gao.<\/p>\n

Mr. Arthid Nanthawithaya, Chief Executive Officer and Deputy Chairman of the Executive Committee of SCB, stated, “We are fully committed to supporting inbound investment from China<\/span> and we are honored to work with the world’s number one solar module\u00a0<\/span>manufacturer, Trina Solar<\/span>, with its important investment in Thailand<\/span>. This is our first solar financing project and we partnered with Trina Solar<\/span> because of its solid growth history, vast growth potential, strong financial position, and highly professional team. We believe that the effort will not only help boost Thailand’s<\/span> economy and create job opportunities\u00a0but will also align well with the Thai government’s policy and our bank’s strategy of promoting clean energy. We look forward to more cooperation with Trina Solar<\/span> in the future.”<\/p>\n

Mr. Jinfeng Ren<\/span>, the general manager of the Global Finance Department of CMBC, added, “The US$100 million<\/span> syndicated loan that CMBC and SCB extended to Trina Solar<\/span> marks a starting point for the cooperation between the two banks and the world’s number one solar module manufacturer. The project not only shows our readiness to provide strong financial support for Chinese enterprises as they ‘go out’ and invest overseas, but it should also raise the confidence of overseas financial institutions in terms of the investment potential of Chinese companies.”<\/p>\n

As the first Thai Bank, with unique heritage of having been established by Royal Charter<\/span> in 1907, SCB has provided banking services to its customers for more than 100 years. SCB is the leading universal banking group in Thailand<\/span>, with a wide array of financial products and services and it has the largest footprint (by branch) and highest market capitalization of all Thai financial institutions.<\/p>\n

Established on January 12, 1996<\/span> in Beijing, China<\/span> Minsheng Banking Corporation <\/span>Ltd is a national joint-stock commercial bank with investments mainly from non-state-owned enterprises (NSOEs). The Company differentiates itself from other state-owned banks and commercial banks with involvement\u00a0in diversified economic sectors. As a pilot program of\u00a0China’s<\/span> banking reform, the Company states, that it has made proactive contributions to the reform and innovation of the Chinese banking industry.<\/p>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

The manufacturing facility is located in Rayong, Thailand and Trina Solar has also secured $143m in financing agreements with Siam Commercial Bank Public Company Limited (SCB) and China Minsheng Banking Corporation Ltd (CMBC). “The investment in Thailand fits our strategy of prudent capacity expansion in select overseas markets to deliver industry-leading products to customers in the US and Europe in particular as we strive to increase the profitability of the company,” said Mr. Jifan Gao, Chairman and CEO of Trina Solar.<\/p>\n","protected":false},"author":2,"featured_media":6092,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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