Trina Solar Announces Strategic Agreement with Q-Cells
Source: Trina Solar press release /8 Feb 2007
http://www.trinasolar.com/front/en/news.php?newid=16
Changzhou, China – February 8th, 2007 — Trina Solar Limited (NYSE: TSL) (“Trina Solar” or the “Company”), a leading integrated manufacturer of solar photovoltaic products based in Changzhou, China, announced today that it has entered into a strategic cooperation agreement with Q-Cells AG (“Q-Cells”), the largest independent solar cell manufacturer in the world.
Under this strategic cooperation agreement, Trina Solar will supply Q-Cells with at least 18MW of high-quality monocrystalline wafers which will be processed into high efficiency cells for Trina Solar’s module assembly facility. The size of this contract is sufficient for Trina Solar to meet its current 2007 cell requirements while it ramps up its solar cell manufacturing lines. Furthermore, Q-Cells will benefit from this strategic agreement by filling additional capacity in its rapidly expanding cell lines in Thalheim, Germany. In addition to the commercial agreement, Q-Cells will provide technical assistance to Trina Solar during the ramp up of the Trina Solar cell lines.
“We are very pleased to enter this agreement with Q-Cells which will allow us to provide high quality wafers to Q-Cells to be processed into cells,” stated Mr. Jifan Gao, Trina Solar’s Chairman and Chief Executive Officer. “This cooperation will help us accelerate our learning curve as we ramp up our in house cell plant and develop a strong partnership with a leading solar cell manufacturing company.”
Q-Cells produces silicon-based photovoltaic cells and has advanced its production methods, thus setting industry standards. Trina Solar in turn is in the process of completing its vertical integration with the addition of a 50MW solar cell plant that is expected to be fully operational by mid-2007.
About Trina Solar Limited:
Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary Changzhou Trina Solar Energy Co., Ltd., is an integrated solar photovoltaic products manufacturer based in China. The company began research and development efforts in solar products in 1999 and in 2002 it started the system integration business. The company moved into the assembly of solar modules in 2004 as well as the manufacturing of monocrystalline ingots and wafers in 2005 and 2006, respectively.