Solar Module Super League (SMSL) member Trina Solar has published its financial results for the first half of 2023, reporting total revenues of US$7.13 billion and shipments of 27GW of its solar modules.
The company’s shipment figures are particularly impressive, considering that it shipped around 13GW of modules in the first quarter of this year. Trina Solar also originally expected to sell 65GW of all modules this year, and is now on track to meet the majority of that target.
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Trina Solar also noted that it had passed the self-set benchmark of shipping 75GW of the 210mm modules to date. The company’s total shipments of solar modules has now exceeded 150GW, while its shipments of tracking systems and fixed-tilt mounting structures has reached 3.3GW.
“Our recent report confirms again the excellent progress made during the first half of 2023 alone,” said Gonzalo de la Viña, president of Europe, the Middle East and Africa at Trina Solar. “It has already been a fantastic year for innovation, and there is a significant demand for our industry to lead smart energy solutions across the globe.”
Part of this growth stems from the continued growth of solar power generation globally, with more projects coming online and all in need of panels. The International Energy Agency expects global solar capacity to exceed global coal capacity by 2027, with 1.5TW of new capacity added between 2022 and 2027.
This growth could also be derived from Trina Solar’s own investment into manufacturing and technology, establishing the company as one of the leaders in the solar manufacturing sector, and one new project developers are likely to engage with. Earlier this week, the company began mass production of its Vertex n-type 700W+ modules, the first time a solar developer started to produce TOPCon modules of such a capacity on a commercial scale.
“Solar power is at the top of the agenda for most governments, businesses and individuals as tackling the climate crisis is a matter of urgency, and we’re committed to working hand in hand with everyone to create a net-zero future for all,” said de la Viña of the growing interest in solar power around the world. “We are already enjoying an outstanding second half of the year, which has seen the beginning of mass production of our Vertex N 700W+ series modules.”
The company’s results are encouraging compared to other SMSL members. Risen Energy expects to ship 30GW of modules in 2023, which Trina Solar has almost matched in six months, and the company is closing in on LONGi, which has dominated module shipments in recent years. LONGi shipped 85GW of modules in 2022, and expects to sell the same volume in 2023, giving Trina Solar and other members of the SMSL a target to aim for.