CHANGZHOU, China, Jan. 11, 2016 /PRNewswire/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic (PV) modules, solutions and services, today announced that it successfully completed and connected three distributed generation ("DG") projects (the "Projects") totaling 27 MW to the grid in Suqian City, Jiangsu Province, China at the end of December 2015.
Powered by approximately 110,000 Trina Solar "Honey" modules, the Projects are installed on the rooftops of three large manufacturing factories located in the Suqian Economic & Technological Development Zone ("SEDZ"). Wholly owned by Trina Solar, the green electricity that the Projects generate is expected to reach approximately 30 million kWh per year over the next 20 years, and is being supplied to the local grid to energize the SEDZ through power purchase agreements, which, on average, will reduce up to 29,000 tons of carbon dioxide emissions annually. The Projects are eligible for a 20-year benchmark on-grid tariff of 1.0 RMB/kWh based on the former feed-in-tariff program in China. In addition, the Company will provide operations and maintenance services ("O&M") to the Projects.
"We are pleased to announce the addition of these three DG installations in the SEDZ to our portfolio of DG projects that went online in the 4th quarter of 2015," commented Mr. Longxing Huang, Vice President and President of the Distributed PV Generation Business Unit of Trina Solar. "The area is a state-level development zone, where rapid industrial expansion and local government's commitment to diversifying its energy mix continues to boost the prospects of solar installations. In particular, the large number of facilities within the zone that have massive flat roofs makes it particularly well suited for the deployment of DG solar energy. We will continue to execute the remaining DG projects within our pipeline in this region in 2016 by leveraging our leading technological expertise and outstanding project development and O&M capabilities. With the grid connection of these projects, along with various other initiatives, we believe our strong finish to the year leaves us particularly well positioned as we head into 2016."
About Trina Solar Limited
Trina Solar Limited (NYSE:TSL) is a global leader in photovoltaic modules, solutions and services. Founded in 1997 as a PV system integrator, Trina Solar today drives smart energy together with installers, distributors, utilities and developers worldwide. The company's industry-leading position is based on innovation excellence, superior product quality, vertically integrated capabilities and environmental stewardship. For more information, please visit www.trinasolar.com.
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 its activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the Company's ability to operate as a public 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; demand in various markets for solar products; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; 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 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.
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SOURCE Trina Solar Limited
Trina Solar Successfully Connects Three Distributed Generation Projects Totaling 27 MW to the Grid in Suqian, Jiangsu Province