Trina boosted revenue and profit in Q3

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.
© PHOTON

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