Trina Solar Limited (NYSE: TSL "Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced that its subsidiary, Changzhou Trina Solar Energy Co., Ltd., has signed a sales agreement with Essco Wholesale Electric, Inc. ("Essco"), the southwest US company of Sonepar USA, a leading full-service commercial, utility and residential electric distributor with locations throughout the United States.
Under the terms of the agreement, Trina Solar is expected to supply Essco with approximately 25 MW of PV modules and an additional 4 MW at the option of Essco, to be delivered during 2010. With the signing of this sales agreement, the Company has now secured a total of approximately 40 MW of PV modules from customers in the United States during 2010, all with agreed prices.
"We are excited to announce this agreement with a well-established leading electrical wholesale distributor like Essco and Sonepar USA. We look forward to helping expand their solar PV capabilities and provide their existing customers and markets with our high-quality solar products," said Mark Wilkerson, Trina Solar’s Senior Director of North American Sales and Marketing. "This partnership will help Trina Solar expand its presence and increase brand recognition in commercial and residential markets in the United States, an important growth market for the company."
"With the addition of Trina Solar modules to our renewable energy equipment portfolio, we truly are able to be a one-stop distributor for our electrical contractors and solar integration companies. With Sonepar’s national coverage through its operating companies and encompassing Essco’s direct coverage of the Southwest, we are making renewable energy products more available and affordable than ever before to our customers," said Scott L. Tonn, Essco’s President.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd., is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since its foundation in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar’s products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar’s website at http://www.trinasolar.com .
About Essco Wholesale Electric, Inc.
Essco Wholesale Electric is one of the largest distributors in the Arizona and Southern California markets, and leader in the renewable energy market space. Founded in 1973, Essco has matured to twelve branches located throughout Arizona and Southern California, with each branch operating as a full-line commercial and residential electrical contractor supply house. Essco prides itself on rapid, reliable and personalized electrical wholesale services. For further information, please visit Essco’s website at http://www.esscous.com .
About Sonepar USA
Sonepar USA is made up of the finest electrical supply distributors in the United States. ESSCO Wholesale Electric is a member of the Sonepar group, one of the world’s largest privately-held electrical distributors. Entering the US in 1998, Sonepar USA has seen dramatic growth over the years due to strategic acquisitions and organic growth. Today, Sonepar USA has 13 companies operating over 253 branches throughout the United States. For further information, please visit Sonepar’s website at http://www.sonepar-us.com .
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s ability to raise additional capital to finance the Company’s activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the period of time for which the Company’s current liquidity will enable the Company to fund its operations; general economic and business conditions; the volatility of the Company’s operating results and financial condition; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
For further information, please contact:
Trina Solar Limited
Terry Wang, CFO
Thomas Young, Director of Investor Relations
Caroline Jinqing Cai