Trina Solar Limited: Sales Agreement with the Belgian Company Invictus NV
CHANGZHOU, China -- Trina Solar Limited ("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 its subsidiary, Changzhou Trina Solar Energy Co., Ltd., has entered into a sales agreement with Invictus NV, a Belgium company (Invictus), member of the Benelux TEC-Servicegroup (former Group GACS).
Under this two year agreement starting in 2009 with predetermined prices, Trina Solar will supply Invictus with 20MW and 30MW for 2009 and 2010, respectively, with an option to purchase additional 10MW for each year. "We look forward to continue working with Invictus, which helps to strengthen our presence in the Benelux market," stated Arturo Herrero, Trina Solar's Vice President of Sales and Marketing. "This agreement further demonstrates our success in establishing commercial relationships with leading PV system integrators in emerging solar PV markets around the globe."
Jan Van der Henst, Chief Executive Officer of Invictus stated, "We are happy to enter into this sales agreement with a well established manufacturer like Trina Solar. Trina Solar has proven itself to be among the few vertically integrated companies in the industry, and we believe this agreement will strengthen our position in the Benelux."
After signing this sales agreement, Trina Solar has now secured the sale of approximately 70 percent of its estimated 2009 production target of 450MW. Approximately 40 percent of the 450MW target has been secured with predetermined prices.
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 Invictus NV
Invictus NV is a Benelux based green project development company specialized in photovoltaic installations. After the acquisition by the TEC Servicegroup (former Group GACS) in May 2008, the company evolved to a total solution provider for PV projects, enabling them to become a reliable partner on a long term base. The present agreement provides Invictus and its customers the guarantee that the confirmed projects, for already 65 MW, will be executed according agreements.
TEC Servicegroup (former Group GACS) is a Benelux group in full expansion with the mission to provide full service solutions for technical building installations. The group has more than 800 employees.
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)
CCG Investor Relations
Crocker Coulson, President
Richard Micchelli, Financial Writer
SOURCE Trina Solar Limited
CONTACT: Terry Wang, CFO of Trina Solar Limited, +86-519-8548-2008
(Changzhou); Or Thomas Young, Director of Investor Relations, +86-519-8548-
2008 (Changzhou), or firstname.lastname@example.org; 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, both of CCG Investor
Relations / Web site: http://www.trinasolar.com /