Trina forecasts PV market boost

Apr. 8, 2009 (China Knowledge) - Trina Solar Ltd<TSL>, a NYSE-listed, China-based manufacturer of mono-crystalline ingots and wafers used in solar module production, expects that China's installed solar photovoltaic (PV) capacity may hit 2.5 gigawatts by 2012, accounting for 10% of the global PV market, the Shanghai Daily reported, citing Gao Jifan, Trina Solar's chairman and CEO.

Gao said the company hopes to sell 10 megawatts worth of modules in China this year, and 400MW globally.

Next year, the company plans to increase its PV production capacity to 700MW.

Last month, China's Ministry of Finance (MOF) announced that China would provide a subsidy of RMB 20 per watt for solar projects that have a capacity of at least 50 kilowatts.

The company hopes to maintain double-digit growth in 2009 and to increase its gross profit rate, which was 20% last year because of the decrease in the cost of polysilicon, added Gao.

Trina Solar realized US$61.35 million in net profit of 2008, compared with US$35.73 million of one year earlier.