Trina boosted revenue and profit in Q3
Post date: 11/11/2020 - 13:20
Trina Solar Co., Ltd. announced rising revenues and profits in the first three quarters. The company reported total realized income of CNY 19.93 billion ($3 billion), a year-on-year increase of 18.66 percent, with third-quarter realized income accounting for CNY 7.38 billion. Profits are CNY 832 million ($125 million) in Q3, a year-on-year increase of 118.94 percent.
To date, the company has received signed orders for over 2 GW of Vertex modules from its major global markets across Europe, Asia-Pacific, Latin America and the Middle East. All domestic orders have come from »top-ranking Chinese electric power developers.« Trina Solar expects total production capacity of its ultra-high-power Vertex modules to hit around 22 GW by the end of 2020, with a state-of-the-art 210-focused production setup forecast to be in place in 2021.
Early in the third quarter, Trina Solar signed a deal with The Rise Fund, part of the alternative asset management company TPG Group, for project contracts accounting for almost 1 GW in total. Included in the deal are 35 overseas PV plant projects across Europe and Latin America, specifically Spain, Chile, Colombia and Mexico. The projects are worth around $700 million in total, some 20 percent of which will be realized income in 2020, with the remainder to be realized by instalments in 2021 and 2022.