Trina Solar Announces Acquisition of Majority Stake in Yunnan Metallurgical New Energy to Support Development of Solar Power Projects
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|Trina Solar to Power North America's Largest Single Rooftop Installation|
CHANGZHOU, China, Sept. 24 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited (NYSE: TSL; "Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that shipments began this month to provide more than 13,400 solar PV modules to power the Atlantic City Convention Center ("ACCC"). This supply comes as part of a signed agreement with general contractor American Capital Energy, who is managing project integration and installation for Pepco Energy Services and the Atlantic City Convention & Visitors Authority ("ACCVA"). The agreement provides for up to four additional megawatts ("MW") to be supplied during 2009.
Once complete, the ACCC project will be North America's largest single roof-mounted solar array, with approximately 185,000 square feet of solar panels for a system size of approximately 2.4 MW. The system is expected to generate over 2.8 million kilowatt-hours of energy per year, or enough to power 280 US homes. The system is being developed under a 20-year Power Purchase Agreement with Pepco Energy Services, a subsidiary of Pepco Holdings, Inc., and will provide the ACCC with energy savings of $4.4 million over 20 years.
"We are very pleased that Trina Solar modules were chosen for this landmark roof-mounted system," stated Jifan Gao, Trina Solar's Chairman and Chief Executive Officer. "We are delighted to work with a proven solar system developer such as American Capital Energy as we enter this key growth market to provide efficient, clean solar energy in the years ahead."
Tom Hunton, President of North Chelmsford, Massachusetts based American Capital Energy, remarked, "Trina Solar is our preferred provider on this project due to their ability to deliver a superior product on time and within budget. We look forward to working with them as a key partner on this and future projects as more large organizations recognize the quantifiable return on investment a commercial-scale solar implementation offers."
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
About American Capital Energy
American Capital Energy provides full-service solar energy project integration and installation for large commercial enterprises. The company is committed to furthering the utilization of solar energy by America's most forward-thinking companies by offering customized turnkey solar systems designed for long term performance and verifiable return on investment. Interested media may contact Richard Schineller at +1(941)780-8100 or firstname.lastname@example.org. For more info, visit http://www.americancapitalenergy.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, Trina Solar'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 ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; 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 companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact: Trina Solar Limited Terry Wang, CFO Tel: +86-519-8548-2008 (Changzhou) Thomas Young, Director of Investor Relations Tel: +86-519-8548-2008 (Changzhou) Email: email@example.com CCG Investor Relations Crocker Coulson, President Tel: +1-646-213-1915 Email: firstname.lastname@example.org Richard Micchelli, Financial Writer Tel: +1-646-454-4516 Email: email@example.com
SOURCE Trina Solar Limited -0- 09/24/2008 /CONTACT: Trina Solar Limited: Terry Wang, CFO, +86-519-8548-2008 (Changzhou); or Thomas Young, Director of Investor Relations, +86-519-8548- 2008 (Changzhou), firstname.lastname@example.org; CCG Investor Relations: Crocker Coulson, President, +1-646-213-1915, or email@example.com; or Richard Micchelli, Financial Writer, +1-646-454-4516, or firstname.lastname@example.org / /Web site: http://www.trinasolar.com http://www.americancapitalenergy.com / (TSL) CO: Trina Solar Limited; American Capital Energy ST: China IN: CPR OIL UTI ENV SU: LIC PDT NL -- CNW031 -- 4296 09/24/2008 08:00 EDT http://www.prnewswire.com