Trina Solar Expands in the U.S. Market
Trina Solar US, a subsidiary of China’s Jiangsu-based Trina Solar, has successfully secured $235 million in financing for a significant new solar manufacturing facility in Wilmer, Texas. Located just 15 miles south of Dallas, the 1.35 million-square-foot plant is set to enhance the local economy and the broader U.S. solar industry.
Financing and Facility Details
The financing, arranged by Standard Chartered, was announced on August 7 as a “green” loan, reflecting its purpose to support sustainable energy projects. The new facility at Tradepoint 45 West will specialize in manufacturing and assembling high-power solar panels and photovoltaic (PV) modules.
Local Impact and Job Creation
Expected to commence operations by the end of the year, the plant will create 1,500 jobs at full capacity, significantly contributing to the local workforce. Steven Zhu, President of Trina Solar North America, emphasized the investment’s role in propelling the U.S. and Texas into leadership positions in sustainable energy practices.
Unique Financial Structure
Jerry Wu, CFO of Trina Solar, highlighted that this project marks the first non-recourse syndicated project financing in the U.S. raised by a PV module manufacturer and renewable enterprise. The plant’s production capacity is projected at 5 gigawatts.
Growing Chinese Influence in U.S. Solar Industry
Chinese firms are set to establish at least 20 gigawatts of solar panel-production capacity in the U.S. within the next year. This expansion is partially driven by new climate subsidies under the Biden administration’s Inflation Reduction Act, which has incentivized several major solar projects by Chinese companies.
Additional Chinese Investments
Other notable projects include a 5-gigawatt plant by Illuminate USA in Ohio and a 2-gigawatt facility by JA Solar in Arizona, both contributing significantly to job creation and technological advancement in their respective states.
Expert Opinions on the Expansion
Experts and industry researchers believe that China’s involvement in the U.S. solar market is crucial for the sector’s growth and maturity, citing their extensive experience in factory building and supply chain management. This collaboration is viewed as essential for advancing U.S. capabilities in solar manufacturing and for meeting ambitious renewable energy targets.
Source: usa.chinadaily.com.cn
