Trina plans USD-420m investment in Vietnam's PV production

Chinese solar equipment manufacturer Trina Solar Co Ltd (SHA:688599) has agreed to pour an additional USD 420 million (EUR 390.7m) to expand its production capacity in the Thai Nguyen province of northern Vietnam.

The company’s latest financing commitment was announced by the provincial government on Sunday after a meeting between Trina's chairperson Gao Jifan and Vietnam’s Deputy Prime Minister Tran Luu Quang.

Trina already operates two factories in Thai Nguyen, representing a combined investment of USD 478 million. The facilities, located about 80 km (49.7 miles) north of the capital city Hanoi within the Yen Binh Industrial Park, were launched in 2021 and 2023, respectively.

The older plant can produce 3 GW of photovoltaic (PV) cells and 4.5 GW of Vertex modules for the North American market, while the other one, brought online in August, has an annual production capacity of 6.5 GW for wafer, 4 GW for cells and 5 GW for modules.

The government’s statement did not specify whether Trina’s latest investment would go for expanding the existing plants or building a new production base.

This summer, Trina's name was on the list of Chinese solar panel makers slapped with new tariffs in the US for trying to circumvent current import duties by completing the assembly of their products in third countries within Southeast Asia.

(USD 1.0 = EUR 0.930)

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