Trina Solar Cancels Fundraising for 20GW Solar Cell and 10GW Module Projects

PVTIME – On 3 July 2024, Trina Solar (688599.SH), the world’s leading provider of integrated PV and smart energy solutions, announced the termination of its fundraising.

On 30 June 2023, Trina Solar published the Preliminary Plan for the Issuance of A Shares to Certain Subjects in 2023, stating that it intends to issue not more than 652,027,699 (inclusive) A ordinary shares to not more than thirty-five investors to raise funds of not more than 10.9 billion yuan (inclusive) for the production of high-efficiency solar cells and modules and additional working capital. According to the announcement, the funds will be used for the 10GW high efficiency solar cell project in Huai’an City, the 10GW high efficiency solar cell and 10GW module projects in Dongtai City, China, to replenish working capital and to repay bank loans. This will provide Trina Solar with additional production capacity of 20GW of high-efficiency solar cells and 10GW of modules. However, the plan has been cancelled due to the actual situation of the company and the factors of changes in the capital market and related policies, according to Trina Solar.

Meanwhile, Trina Solar expects TOPCon to dominate the market in the next two to three years. Other technologies, including HJT and perovskite, are being explored by Trina Solar’s R&D team. Some of these new products will be mass produced to meet market demand. Currently, the conversion efficiency of Trina’s HJT cells has reached 26.50% in mass production, which has been certified by Germany’s ISFH CalLab, ranking first among solar cells of the same size in mass production. In addition, its 16cm2 large-size silicon and perovskite tandem cells achieved the highest conversion efficiency of 28.53% in the laboratory and could also be mass-produced.

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