CHANGZHOU, China, Aug. 11 /PRNewswire-Asia-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, today announced that it has
been selected by Renewable Ventures, a Fotowatio company ("Renewable
Ventures"), to supply modules for a two-MW PV project in Fort Collins,
Colorado. Shipment under this agreement has already commenced.
AMEC, an international engineering and project management company, will
construct a 15-acre solar array on the Foothills campus of Colorado State
University. Upon completion, the solar array is expected to be one of the
largest solar installations at a U.S. university. The system is being
developed under a 20-year power purchase agreement with Renewable Ventures and
is projected to generate sufficient solar power to provide more than 10% of
electricity needs for the university's Foothills campus.
This project is the first to be financed under Renewable Ventures' Solar
Fund V, a $200 million fund designed to finance and develop around 35 MW of
solar projects in the next year. The fund is structured to include both debt
from John Hancock (a unit of Manulife Financial Corporation) and equity from
Renewable Ventures and Wells Fargo, and will enable the construction and
permanent financing of around 35 MW in 2010.
"Trina Solar is pleased to partner with Renewable Ventures and AMEC to
build clean, green renewable projects across the United States and Europe,"
said Mr. Arturo Herrero, Vice President of Sales & Marketing at Trina Solar.
"We believe Colorado State University's large solar installation and
commitment to green campus efforts will further encourage solar adoption at
other universities throughout the United States."
"We are very pleased to work with Trina Solar on this Colorado State
University solar project," said Mr. Matt Cheney, CEO of Renewable Ventures.
"Trina Solar has a proven track record, and their demonstrated experience and
commitment to their customers made them an excellent choice."
"We are delighted to partner with Renewable Ventures and Trina Solar on
this important renewable energy project," said Mr. Tim Gelbar, President of
AMEC's Power and Process Americas. "We are committed to supporting Colorado
State University's green campus efforts."
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 have developed a vertically integrated business
model from the production of monocrystalline and multicrystalline silicon
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 Renewable Ventures, a Fotowatio Company
Fotowatio, one of the largest solar power companies in the world, is an
independent renewable power producer (IPP) with 130 MW of solar projects in
operation in the United States and Europe. Fotowatio has more than 1,000 MW in
development across the United States, Spain and Italy using both PV and CSP
technologies. A global company, Fotowatio is owned by GE Energy Financial
Services, Landon Group, and Qualitas Venture Capital. Renewable Ventures is
Fotowatio's U.S. global business unit with an exclusive focus on the
development of commercial and utility-scale solar projects throughout the
United States. For more information, please visit http://www.fotowatio.com or
AMEC (LSE: AMEC) is a focused supplier of high-value consultancy,
engineering and project management services to the world's energy, power and
process industries. With annual revenues of over 2.6 billion Pounds Sterling
(US$4.2 billion), AMEC designs, delivers and maintains strategic and complex
assets for its customers. AMEC's Natural Resources, Power and Process and
Earth and Environmental businesses employ over 22,000 people in more than 30
For almost 100 years AMEC has provided detailed design, engineering and
construction management services to power developers, utilities, industry,
contractors, financial institutions, governments and renewable technology
developers. The company has project experience in many of the key renewables
sectors including wind, biomass, biofuels, energy from waste, hydrogen, fuel
cells, carbon capture and storage and clean coal. For more information, please
visit http://www.amec.com .
For information about Wells Fargo, please visit http://www.wellsfargo.com .
For information about John Hancock Financial, please visit
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 the Company's
activities; the effectiveness, profitability and marketability of its products;
the future trading of the securities of the 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; the volatility of the
Company's operating results and financial condition; 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 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, 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
Terry Wang, CFO
Phone: +86-519-8548-2009 (Changzhou)
Thomas Young, Director of Investor Relations
Phone: +86-519-8548-2009 (Changzhou)
Caroline Jinqing Cai
SOURCE Trina Solar Limited
/CONTACT: Terry Wang, CFO of Trina Solar Limited, +86-519-8548-2009, or
Thomas Young, Director of Investor Relations, +86-519-8548-2009, both of Trina
Solar Limited, email@example.com; or Caroline Jinqing Cai, +86-10-6566-2256,
or Michael Fuchs, +86-10-6566-2256, both of Brunswick Group,
/Web site: http://www.trinasolar.com
CO: Trina Solar Limited; Colorado State University; Renewable Ventures; AMEC
IN: OIL ENV GRE
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0998 08/11/2009 08:00 EDT http://www.prnewswire.com