Trina Solar sees revenues rise, profits return, PV module shipments increase during quarter

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Trina Solar saw its second-quarter revenues increase over the previous quarter although sales numbers were down from the same period in 2008, while net income went back into the black compared to the first quarter. The Chinese integrated photovoltaics manufacturer shipped nearly 31% more modules in the quarter versus the preceding three months.

Trina’s net revenues in the second quarter were $150.0 million, an increase of 13.5% sequentially and a decrease of 26.5% year-over-year, due to a decline in module average selling price. Total shipments were 63.9MW, compared to 48.8MW in 1Q09 and 47.6 MW in 2Q08.

The company attributed the sequential increase in total shipments to improved demand conditions in major European markets, improved customer access to PV system purchase financings, and an increasing number of government incentive programs for solar energy projects in Europe, North America, and Asia.

Gross profit in the quarter was $41.2 million, compared to $22.7 million in 1Q09 and $47.4 million in 2Q08. Gross margin was 27.4% in the second quarter, compared to 17.2% last quarter and 23.2% in the 2Q08.

Net income was $18.9 million in 2Q09, an increase from a $10.6 million loss in 1Q09 and a $17.1 million profit in the second quarter last year, while net margin was 12.6% in 2Q09, compared to negative 8.0% in 1Q09 and 8.4% in 2Q08.

Trina estimates it will ship between 90 and 110MW of PV modules in the third quarter and  350-400MW for the year, which would represent an increase of 74% to 99% from last year.

The company’s nonsilicon manufacturing cost for its multicrystalline modules decreased approximately $0.06 to $0.73 per watt during the just-completed quarter. It expects multicrystalline modules to account for approximately 70% of its production in 2009.

The Chinese firm also reiterated expectations to reduce its manufacturing costs by 15- 20% through a combination of technology and manufacturing process improvements together with supply chain and logistics management initiatives currently under testing or development.

Through R&D and and technology transfer, the company said it continues to improve its cell production processes to meet its previously announced 2009 conversion efficiency targets of 18.5% and 17.5% for its mono- and multicrystalline commercial product lines, respectively. Based on recent on-site laboratory test production, Trina has achieved monocrystalline cell efficiencies of up to 18.6% by leveraging advanced passivation and metallization techniques involved in the PV manufacturing process.

Through yield increases achieved from improved cell and production efficiencies as well as  manufacturing line enhancements, the company said it is on target to increase its annualized in-house production capacities of PV cells and modules from the current 400MW to approximately 450MW by the end of September.

Trina also expects to add approximately 150MW of additional capacity as part of its new East Campus capacity expansion, reaching a total cell and module nameplate annual capacity of 600MW by year’s end.

22 September 2021
To commemorate the World Energy Storage Day(WESD) on 22 September, being recognized worldwide, Customized Energy Solutions (CES) and India Energy Storage Alliance (IESA) is organising the 5th global conference and virtual expo, which will be held virtually on 22 September 2021. WESD is a global movement initiated by various apex trade bodies working to promote and adopt energy storage, e-mobility & green hydrogen technologies for a sustainable future. The forthcoming edition of WESD is expected to attract global participation with an intent to facilitate bi-lateral trade, market development and new research and innovation, which will invite 100+ countries, 100+ regulators & policy makers, 100+ International speakers,1000+ organisations, 100+ partners & exhibitors and 20,000+ global delegates.
28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.

Read Next

September 17, 2021
BP, Abu Dhabi National Oil Company (ADNOC) and Masdar have partnered up to develop low carbon hydrogen hubs and create decarbonised air travel corridors between the UK and UAE in a deal that will see “billions” of dollars of investment.
September 17, 2021
US utility company Dominion Energy Virginia has proposed 15 new energy projects totalling 1GW of power for the state, which Dominion Energy claimed was the largest group of projects to be submitted to the Virginia State Corporation Commission (SCC)
September 17, 2021
Renewables developer Ørsted has promoted Neil O'Donovan to CEO of its onshore business unit following the resignation of his predecessor in August.
September 17, 2021
A 58.5MW floating PV plant in Thailand, said to be the largest install of its kind in the country, has been connected to the grid, according to inverter and floating solutions supplier Sungrow.
PV Tech Premium
September 17, 2021
PV Tech spoke to investors and analysts about why Brazil is fast becoming an attractive market for solar investment.
September 16, 2021
Vistra Energy has welcomed the enactment of clean energy policies in Illinois which the power generation company said will support 300MW of solar and 150MW of battery storage to be built at nine of its coal plant sites. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
Solar Media Events
December 1, 2021