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Trina Solar Limited (ADR) : Trina Solar to Supply 25 MW Modules to Bangchak Solar Energy Project in Thailand

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12/19/2013 | 01:19pm CET

CHANGZHOU, China, Dec.19, 2013 /PRNewswire/ -- Trina Solar Limited ("Trina Solar" or the "Company"), a global leader in photovoltaic ("PV") modules, solutions, and services, today announced that it has been chosen as the sole supplier of 25 MW of modules to Phase III of the 75 MW Bangchak Solar Energy Project in Thailand. The project is owned by Bangchak Solar Energy (Nakhonratchasima) Co., Ltd. ("BSE-NMA") and Bangchak Solar Energy (Chaiyaphum 1) Co., Ltd. ("BSE-CPM1"), the subsidiaries of Bangchak Solar Energy co., Ltd. ("BSE") and will be constructed by Gunkul Engineering Public Company ("Gunkul"). Trina Solar is expected to commence shipment in late December.

"We are very pleased to collaborate with BSE, a leading solar power plant operator in Thailand," said Mr. Jifan Gao, chairman and CEO of Trina Solar. "This is a significant module supply contract for Trina Solar in Thailand and demonstrates our continued commitment to delivering on our strategy of market diversification."

Mr. Gao added, "Thailand is a leading emerging solar market in South East Asia. We look forward to growing our presence in Thailand's solar market in 2014 and to contributing to the realization of a more secure, clean and independent solar energy for Thailand."

"BSE is deeply committed to growing the number and the scale of solar power projects in Thailand to strengthen local economies and help defend against climate change," commented the management of Bangchak Solar Energy. "Trina Solar's excellent international track record combined with their high-efficiency panels, which are highly suited to Thailand's hot and humid climate, singled them out as our partner of choice."

"This solar project further supports Thailand's National Energy Policy Commission's new target of delivering 1,000 MW of solar power by 2014 and 2,000 MW of solar power through utility projects by 2021 incented by feed-in-tariffs for rooftop and community ground-mounted solar projects, signaling high-level support for Thailand's solar sector," added the management of Bangchak Solar Energy.

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-shaping position is based on innovation excellence, superior product quality, vertically integrated capabilities and environmental stewardship. For more information, please visit www.trinasolar.com.

About Bangchak Solar Energy Co., Ltd. (BSE)

Bangchak Solar Energy Co., Ltd is 100% owned by the Bangchak Petroleum Public Company Limited (BCP). BSE and BCP jointly own Bangchak Solar Energy (Nakhonratchasima) Co., Ltd ("BSE-NMA") and Bangchak Solar Energy (Chaiyaphum 1) Co., Ltd ("BSE-CPM1"). BSE operates the 38 megawatt capacity Sunny Bangchak solar power plant project which is located at Amphoe Bang Pa-in in Ayutthaya province. The plant will promote Bang Pa-in as a learning center and Thailand's first tourist attraction for integrated alternative energy. The company plans to further invest in solar power generation projects to reach a target of over 118 megawatts operated by its subsidiary company. For more information, please visit: http://www.bangchak.co.th.

About the Bangchak Petroleum Public Co., Ltd. (BCP)

The Bangchak Petroleum Public Company Limited is a Thai-based energy company, with operations in the Middle East, Asia and in its home market. The company also sells finished oil products through a network of over 1,100 service stations. The company's direct sales channel covers large and medium-scale consumers, including industrial plants, airlines, automobile companies, ocean liners, and construction businesses. Bangchak is firmly committed to the growth of renewable energy technologies, particularly solar power, which contributes to Thailand's energy security and supports the government's policy to promote renewable energy. For more information, please visit: http://www.bangchak.co.th.

About Gunkul Engineering Public Company

Gunkul Group is a quality manufacturer and well-known supplier of electrical power and renewable energy systems. It offers a range of over 5,000 quality products to meet the needs of a wide variety of customers. The Company's products are produced by its subsidiary manufacturers as well as imported from well-known international manufacturers from the U.S.A., Germany, Japan, and China. The Company has also been recognized by customers in both the government and public sectors, covering Electricity Generating Authority of Thailand (EGAT), Metropolitan Electricity Authority (MEA), Provincial Electricity Authority (PEA), TOT Public Company Limited, Department of Alternative Energy Development and Efficiency (DEDE), Siemens, Alstom, ABB, PTT, and SCG. For more information, please visit: http://www.gunkul.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.

For further information, please contact:

    Trina Solar Limited         Brunswick Group
    Terry Wang, CFO             Ilse Schache
    Phone: + (86) 519-8548-2008
     (Changzhou)                Phone: + (86) 10-6566-2256 (Beijing)
                                Email: [email protected]

    Yvonne Young
    Head of Investor Relations
    Phone: + (86) 519-8517-6878
    Email: [email protected]

SOURCE Trina Solar Limited

© PRNewswire 2013
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