Trina Solar, the prominent Chinese solar power company, has demonstrated remarkable growth by shipping more than 45 gigawatts (GW) of solar modules during the first three quarters of 2023, contributing to a revenue increase of over 31% compared to the same period last year.
In the third quarter of 2023 alone, the company shipped approximately 18 GW of solar modules, a notable increase compared to the 27 GW shipped in the first half of the year. In addition to modules, Trina Solar also dispatched 5.6 GW of trackers and fixed-tilt racks during the same period.
Trina Solar's cumulative shipments of 210-millimeter modules surpassed 90 GW by the end of Q3 2023. Furthermore, as of the end of October, their cumulative shipments of the 210R modules had exceeded 15 GW.
The financial results for the first three quarters of the year revealed revenues of $11.16 billion, representing a substantial 31.2% growth in comparison to the previous year's corresponding period. During the first half of 2023, Trina Solar reported total revenues of $7.13 billion, indicating that Q3 revenues amounted to around $4.03 billion.
Aside from these financial achievements, Trina Solar announced the commencement of mass production for its 10 GW n-type tunnel oxide passivated contact (n-TOPCon) Vertex N 610W modules and 10 GW n-type i-TOPCon cells at its Huai'an base.
Moreover, Trina Solar is preparing to invest an additional $420 million in Vietnam's Thái Nguyên province, as disclosed by the Thái Nguyên provincial government. Although the statement did not specify whether this investment would involve a new manufacturing plant or other projects, it underscores Trina Solar's continued commitment to the region.
In August, Trina Solar initiated the production of 210-millimeter monocrystalline wafers at its manufacturing facility in Thái Nguyên. These wafers are intended for use in Vertex modules supplied to the US market. The Thái Nguyên facility boasts substantial production capacity, with 6.5 GW for wafer production, 4 GW for cell production, and 5 GW for module production.
Additionally, it is worth noting that in the same month, the US Department of Commerce identified five solar PV manufacturers, including Trina Solar, as having circumvented import tariffs by shifting parts of their supply chains to Southeast Asia. Last year, US President Joe Biden unveiled a plan to exempt solar imports from Southeast Asia from tariffs for two years, as part of a broader effort to promote renewable energy deployment.
