Updated: Leading PV module manufacturer Trina Solar said in its full-year earnings call that it would be preparing to spin-off its downstream PV project business via an IPO and stage in the future.
Management noted in the call that it was expanding its project pipeline both in China and overseas and that the spin-off would generate better investor returns in the long-term.
The company said it would update on IPO plans in future quarters.
Trina Solar expects to connect to the grid 700MW to 750MW of downstream PV power projects across the world in 2015, including 30%-40% being DG projects in China.
Trina Solar also noted in the call that retained PV projects on its balance sheet would be projects built and grid connected in China.
Access to low-cost finance was noted as a key to expanding its PV project business and a key step is to spin-off the segment. However, Trina Solar said the spin-off was still being discussed internally in respect to which market it would use for the IPO. Management noted that it was considering the US as a well as Hong Kong exchanges amongst others for the IPO.