Trina Solar completes deal to take company private

Facebook
Twitter
LinkedIn
Reddit
Email

The deal that will take Trina Solar private has been completed, the company has announced.

Shares in the Chinese Silicon Module Super League (SMSL) manufacturer have been suspended at the company’s request ahead of its delisting. Trina also confirmed its intent to halt its reporting obligations. It has merged with Red Vibernum and is now a subsidiary of Fortune Solar Holdings. A consortium led by Trina’s chairman and CEO Jifan Gao will now acquire Fortune Solar in an all cash transaction.

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

Although there have been no details from the company, it is widely anticipated that it will eventually list on an exchange either in Hong Kong or mainland China.

Around 90% of Trina’s shareholders approved the deal at a vote in December 2016.

Yali Jiang, an analyst with Bloomberg New Energy Finance (BNEF), told PV Tech at the time that conditions in the US had become tougher for solar firms.

“The main intention is probably to re-list at a higher market value on other platforms in mainland China and Hong Kong,” she said. “It is now more challenging for solar manufacturing companies to issue new equity offerings in the US, as US investors are becoming cautious about solar stocks after losing money on several high profile examples.”

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

May 29, 2024
Trina Solar has signed an agreement with two Korean companies to develop two solar projects with a combined capacity of 100MW.
May 28, 2024
US solar project company Pine Gate Renewables has signed an environmental asset purchase agreement (EAPA) with the social media giant Meta for a 204MW solar PV project in Temple, Texas.
Premium
May 28, 2024
The module procurement tenders of China's state-owned enterprises have always been a barometer, revealing the fierce competition within the industry over everything from module technology to pricing.
May 24, 2024
Solar project developer Recurrent Energy has secured a €674 million (US$730 million) revolving credit facility to expand its European solar and battery energy storage system (BESS) portfolio.
May 24, 2024
Ørsted has closed a US$680 million tax equity financing with JP Morgan for a solar project, alongside a solar-plus-storage project.
May 24, 2024
US power distribution company Entergy Louisiana has received approval from the Louisiana Public Service Commission (LPSC) to add up to 3GW of solar PV.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece