Last Update: 30-Dec-13 07:20 ET
Trina Solar shares spike 6% following China solar plant investment agreement
- Trina Solar (TSL $14.00 +0.85) announced that it has signed an investment framework agreement with the local government authority of Turpan Prefecture to develop a 1GW ground-mounted solar power plant project in western China's Xinjiang Region.
- Under the agreement, the solar power plants totaling 1GW are scheduled to be built in multiple phases over a four year time frame starting from early 2014. The commencement of each phase of development is subject to certain conditions, including approvals from the local government and State Grid. The first two phases of the project, with installed capacity of 300 MW, are scheduled to be completed and connected to the grid by the end of 2014, subject to receipt of the required approvals. Upon receiving approval for phase one, Trina Solar will also invest in the construction of a PV module production facility in the local area to supply modules to the solar power plants.
Trina Solar (TSL $14.00 +0.85) announced that it has signed an investment framework agreement with the local government authority of Turpan