Trina Solar to deploy 100MW of new solar capacity in South Korea

Facebook
Twitter
LinkedIn
Reddit
Email
trina solar
“This MOU represents a significant opportunity for Trina Solar,” said Li Na (centre). Image: Trina Solar

Leading Chinese module manufacturer Trina Solar has signed a memorandum of understanding (MOU) with two Korean companies to develop two solar projects in South Korea, with a combined capacity of 100MW.

Trina Solar signed the deals with energy consultants CSC Energy and engineering, procurement and construction (EPC) firm SolarTEQ, and plans to commission both projects by the end of 2025. The manufacturer noted that it would provide “cutting-edge” module technology to the projects, while CSC will provide project development services, and SolarTEQ will procure the modules and other components.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The projects will also be used to match demand for electricity from RE100 companies, signatories to a global initiative to meet 100% of their energy demand with renewable energy. While Trina Solar has not announced specific off-take agreements for the projects, the involvement of the RE100 initiative suggests larger companies could ultimately be involved in the portfolio.

“This MOU represents a significant opportunity for Trina Solar to contribute to the growing RE100 movement in South Korea,” said Li Na, Trina Solar Asia Pacific general manager for Israel, Japan and Korea.

“By combining our strengths with our local partners, we are confident we can develop and deliver successful solar projects that meet the needs of RE100 companies, accelerating South Korea’s transition to clean energy.”

The deal could be a boon for Trina Solar, which was one of many leading module manufacturers to report reductions in Q1 profits earlier this year. Trina Solar posted a 70.8% year-on-year decline in net profit, impacted by ongoing pricing pressures in the industry, and it will look to improve its financial performance in the future.

The company has also made a number of investments into its manufacturing capacity, expanding a Vietnam facility to a total production of 6.5GW of wafers, 5GW of modules and 4GW of solar cells earlier this month.

The South Korean solar sector has grown steadily in recent years, reaching 20.97GW of operational capacity as of the end of 2022. The national government aims to meet 20% of its electricity demand with renewables by 2030, which would require a significant expansion in its solar and wind capacity, which accounted for just 5% of the energy mix as of 2023.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

Sponsored
June 17, 2024
At SNEC 2024 last week, PV Tech spoke to John Zhang, deputy general manager of inverter manufacturer and smart energy provider Hypontech.
Sponsored
June 17, 2024
During SNEC 2024 event, PV Tech spoke with Hopewind's Sara Wang about its range of products at the event, and its latest rebranding efforts.
Sponsored
June 17, 2024
This year at SNEC, the booth of Quanwei Solar Technology (QW Solar) attracted many visitors to participate in its interactive experiments.
June 14, 2024
Ørsted has commissioned its Helena Energy Center in the US state of Texas, a 518MW co-located solar and wind project.
June 12, 2024
Burns & McDonnell has started construction on Consumers Energy’s 297MWdc/250MWac solar project in the US state of Michigan.
June 11, 2024
The Sun Investment Group (SIG) has secured a debt facility to support its development of 1.97GW of new solar capacity in Poland.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia