CHANGZHOU, China, July 29 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited, a leading integrated manufacturer of photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that it has entered into a sales agreement with Enel.si S.r.l, ("Enel.si"), a subsidiary of Enel SpA (collectively "Enel"), Italy's largest power company, listed on the Milan Stock Exchange.
Under terms of the two-year agreement, Trina Solar will supply Enel with a total of 17 megawatts (MW) of PV modules starting in 2008, which includes 15 MW of scheduled delivery for 2009 at fixed prices.
"We are very pleased to have entered into this sales agreement with Enel, a globally recognized power provider who is committed to investments in new power sources from environmentally-friendly technologies," stated Jifan Gao, Trina Solar's Chairman and Chief Executive Officer. "We look forward to building our relationship with Enel as we further our sales and brand recognition in the Italian market."
Italy's current regulations and PV installations confirm it as one of the most attractive growth markets in the solar PV industry.
"We are very pleased to sign this agreement with Trina Solar. The new contract adds products to our portfolio that becomes day by day larger and more diversified," says Paolo Riccardo Felicioli, Managing Director of Enel.si.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL - News), 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 it was founded in 1997 as a system installation company. Trina Solar is currently one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. This integrated value chain helps to ensure that high quality products can be delivered to its end customers around the globe, including a number of European countries, such as Germany, Spain and Italy. Trina Solar's solar modules provide reliable and environmentally-friendly electric power for residential, commercial, industrial and other applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
About Enel
Enel is Italy's largest power company, and Europe's second listed utility by installed capacity. It produces, distributes and sells electricity and gas across Europe, North and Latin America. Further to the acquisition of the Spanish utility Endesa, Enel has now a presence in 21 countries with 75,500 MW of generating capacity (on 31st December 2007) and serves more than 50 million power and gas customers. Listed on the Milan stock exchange since 1999, Enel has the largest number of shareholders of any Italian company, at some 1.7 million retail and institutional investors.
Enel.si is a 100% subsidiary of Enel and is active in photovoltaic, solar thermal, miniwind energy and other products and services related to an efficient use of power and gas. Enel.si has a strong marketing and sales network in Italy based on a franchising installers network.
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, Trina Solar's ability to raise additional capital to finance its activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; 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 companies and the industry. 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact:
Trina Solar Limited
Terry Wang, CFO
Tel: +86-519-8548-2008 (Changzhou)
Thomas Young, Director of Investor Relations
Tel: +86-519-8548-2008 (Changzhou)
Email: ir@trinasolar.com
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Ed Job, CFA
Tel: +1-646-213-1914
Email: ed.job@ccgir.com
Source: Trina Solar Limited
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