Trina Solar module shipments hit new record high in first half 2020

Facebook
Twitter
LinkedIn
Reddit
Email

‘Solar Module Super League’ (SMSL) member, Trina Solar has reported its first financial results since delisting from the New York Stock Exchange (NYSE) almost four years ago, starting with record first half year PV module shipments of 5,840MW, a 37% increase of the prior year period. 

The company noted that despite global solar demand declining in the first half of 2020, due to impact of COVID-19, Trina Solar was able to maintain production at its manufacturing operations across its facilities in China, Malaysia, Thailand and Vietnam.

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

Shipments in the first half of 2020 were almost equal to annual shipments in 2016 and 2018, and nearly two-thirds of record shipments of 8,757MW in 2019. Trina Solar’s shipments excluded modules used in its in-house project development arm.

Trina Solar reported first half year operating income (revenue) of RMB 12.54 billion (US$1.82 billion), an increase of 16.56% over the prior year period.

PV module shipments outside China grew strongly in the reporting period. The firm shipped 1,071MW to North America, primarily from its overseas facilities such as Vietnam, avoiding current import duties, an increase of over 238% from the prior year period.

Shipments to Europe were also strong with a 60% year-on-year increase to 1,720MW. The company also noted a 162% increase in shipments to Latin America, totalling 508MW. The company did not breakout shipments for Asia or China, specifically. 

Trina Solar reported first half year operating income (revenue) of RMB12.54 billion (US$1.82 billion), an increase of 16.56% over the prior year period. Net profit in the reporting period (attributable to shareholders ) was RMB492.9 million (US$71.7 million), a year-on-year increase of 245.81%.

Trina Solar reported first half year operating income (revenue) of RMB 12.54 billion (US$1.82 billion), an increase of 16.56% over the prior year period.

Manufacturing update

Recently, Trina Solar announced a new wave of capacity expansions that included adding 7.6GW of 210mm wafer-size capable cell line capacity to its production plant in Yancheng, China, while upgrading a further 2.4GW of cell capacity at the site to process 210mm wafers, an initial 10GW of nameplate capacity dedicated to its latest large-area Vertex module. 

Capacity will also be added in Malaysia, Thailand and Vietnam totalling 2.5GW. In total, Trina Solar expects to have 26GW of in-house cell and 28.4GW of module assembly capacity by the end of 2021.

The company recent raised around US$360 million in a share offering to primarily fund initial capacity expansions related to a 3GW solar cell expansion at its Yiwu, China facility. 

Trina Solar expects to have 26GW of in-house cell and 28.4GW of module assembly capacity by the end of 2021.
27 June 2024
9am BST
FREE WEBINAR -This special webinar will take a deep dive into the latest PV ModuleTech Bankability Ratings pyramid, capturing the relative bankability status of the top 70-80 PV module suppliers globally. In addition to revealing the latest ranking of global PV module suppliers, PV Tech’s Head of Research, Finlay Colville, will show the depth of analysis and commentary included within the report for module suppliers. A key output from the webinar will be to learn which PV module suppliers have moved up the rankings pyramid in recent years and why this growth has been achieved. Conversely, some of the companies that have fallen down the rankings will be discussed, in particular those suffering from market-share losses and financial problems.
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

June 24, 2024
Solar frame producer Origami Solar has signed three deals with US steel manufacturers to produce its steel module frames in a move which it said “finalised a fully American supply chain.”
June 24, 2024
The first auction of Australia's Capacity Investment Scheme (CIS) has received interest from more than 40GW of solar and wind projects.
June 21, 2024
LONGi has announced a commercial M6 size wafer-level silicon-perovskite tandem solar cell with 30.1% efficiency at Intersolar Europe 2024.
June 20, 2024
A study exploring the feasibility of resurrecting PV manufacturing in Germany and Europe more widely has identified an eight-cent-per-watt cost gap between modules produced in China and those produced locally.
Sponsored
June 20, 2024
Ashley Wang, vice president, of Solar N Plus, talks about the company’s products, international footprint and production targets.
June 20, 2024
The smarter E Award has five categories in total, including photovoltaics, energy storage, e-mobility, smart integrated energy and outstanding projects.

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
Upcoming Webinars
July 10, 2024
9am (BST) / 10am (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland