Trina Solar completes deal to take company private

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
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.

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.”

9 June 2022
The proliferation of solar PV and other renewables is a cornerstone of the emerging new power system and, as a result, the solar industry has entered its fastest-growth period. This has become typified by surging demand for high-power PV modules that both produce more power and are more efficient than their predecessors. Providing a significant boost to power outputs, large-format modules have become a popular choice for customers the world over. Outdoor testing of modules is now providing empirical evidence of the benefits large-format modules produce, providing a crucial benchmark and invaluable data for customers to evaluate their module selection and procurement processes. In this PV Tech webinar, experts from TÜV Rheinland, CPVT and Trina Solar will discuss how to ensure science based and precision testing under field conditions, how empirical data is collected and analysed during TÜV Rheinland and CPVT’s outdoor testing, the empirical data behind a 670W module’s ultra-high power, and more.
14 June 2022
Join us in Napa to unlock the key to reliable PV module supply to the U.S. market in 2022 & 2023. We'll also be gathering the main players in the US solar market for some wine tasting!
4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.

Read Next

May 27, 2022
The CEO of US solar and energy storage developer Borrego has said the company’s project development business will be less capital constrained under the new ownership of investment firm ECP, following a deal announced earlier this week to spin off and sell the unit.
May 26, 2022
US solar and energy storage developer Borrego will spin off and sell its development business, including its more than 8.4GW PV project pipeline, to investment firm ECP.
May 26, 2022
The Solar Media Podcast returns to discuss the continued rise of TOPCon PV modules and energy storage demand throughout Europe.
May 25, 2022
Module price increases, higher raw material costs and logistical challenges will pull down the return on equity (ROE) for 25GW of India solar projects, with 5GW of those at high risk given when they submitted their bids.
May 25, 2022
Supply chain woes, spiralling energy prices and the COVID-19 pandemic have reversed the downward trend in average business interruption (BI) claims for renewables developers, with sector-wide average business downtime days up by 38% on 2016.  
May 24, 2022
Nextracker will supply 1.5GW of its solar trackers to US independent power producer (IPP) Silicon Ranch as part of a new agreement between the companies.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 7, 2022
Leonardo Royal London City, London, UK
Solar Media Events
June 14, 2022
Napa, USA
Solar Media Events
June 22, 2022
Sheraton Austin Hotel at the Capitol, Austin, Texas