Trina Solar, Spire expand lines of credit

Facebook
Twitter
LinkedIn
Reddit
Email

Trina Solar and Spire have both improved their financial positions by securing new or expanding existing lines of credit.  Trina said it has landed new credit facilities totaling $57 million from Standard Chartered Bank (China), consisting of trade financing and defensive hedging products. Spire said it has amended its current $3 million revolving credit facility with Silicon Valley Bank, adding another $5 million revolver, which adds up to $8 million available to the company over the next year.

Trina said that the new lines of credit will help support its raw material procurement and product sales, while helping the company mitigate foreign exchange risks associated with market volatilities. The vertically integrated Chinese solar manufacturer now has total credit facilities of about $520 million.

Spire’s expanded line is an export-import credit facility backed by a guarantee from the Export-Import Bank of the United States. The existing equipment credit facility will be retained with no additional funds available under that line, the company said.

23 August 2022
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 August 23–25, 2022, 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. In 2021 – despite the Covid-19 pandemic – Intersolar South America welcomed more than 28,000 visitors and over 1,000 conference attendees over 3 days. 200+ providers showcased their products. Combining local and international expertise, Intersolar South America brings together the PV and solar thermal sector to discuss the current status and strategic trends for Latin American PV markets, as well as technology innovations and new business opportunities. Overall, distributed generation is still driving momentum in the Brazilian market. Get 10% off with code 38LCF6KN
6 September 2022
Intersolar Mexico sits at the cross-section of photovoltaics, solar heating & cooling technologies, and energy storage. The event serves as the industry’s go-to source for invaluable technology trends and premier B2B contacts in the promising Mexican solar market. From September 6–8, 2022 Intersolar Mexico together with the co-located The GREEN Expo® and Aquatech Mexico will take place in Centro Citibanamex, Mexico City.
7 September 2022
The demand for rooftop solar PV is soaring, driven by falling costs of the technology against energy crises that are gripping countries globally. But while an increasing number of households turn to solar to generate their own electricity, there is now a need for more specialist equipment, technologies and services to ensure the solar transition can reach as many customers as possible. Delivering these is now a major challenge for rooftop solar installers. This webinar will analyse the characteristics of the rooftop solar market, discussing how the products, logistics, installation and servicing of solar systems has evolved in line with consumer demands.
14 September 2022
Join us in London for 2 days as we look at the UK’s new landscape for utility & rooftop solar. Understand the new opportunities within this GW-plus annual market!
15 September 2022
Bifacial PV modules will be the dominant solar PV technology globally within one or two years; in the utility-scale sector, their market share is already above 70%. This webinar will provide a clear view on the successful implementation of bifacial technology, maximizing system performance and minimising LCoE.
19 September 2022
RE+ 2022 is the umbrella event that includes SPI, ESI, RE+ Power, and RE+ Infrastructure. As North America's largest renewable energy event, it's a catalyst for industry innovation that's supercharging business growth in the clean energy economy.

Read Next

August 11, 2022
The US government Department of Energy is looking for public input into how US$675 million of funding for R&D into Critical Materials should be best directed.
August 11, 2022
German project developer Energiequelle has entered the Polish renewables market with an eye on 30 projects with more than 1GW of capacity.
August 11, 2022
EDF Renewable Energy has reached full power operation of its 457MW ‘Palen Solar Project’ located on public lands in the south of California.
August 11, 2022
The financial adversity of India’s struggling distribution companies (Discoms) has been reflected in a significant downgrading in the latest rankings by the Ministry of Power, giving yet more concern for renewable energy players
August 11, 2022
Finlay Colville, Solar Media's head of market research, lays out the UK's path to achieving 40GW+ of solar PV by 2030 after rebounding from recent headwinds in its solar sector
August 11, 2022
Michigan utility DTE Energy has signed an agreement with automaker Ford to supply 650MW of solar PV in Michigan.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event