Trina Solar Limited (NYSE: TSL) has announced that it has signed a long-term polysilicon supply agreement with a subsidiary of GCL Silicon Technology Holdings Ltd.
Under the terms of this agreement, GCL Silicon Technology will supply Trina Solar with virgin polysilicon supplies that are sufficient to produce roughly 2,600 MW of solar modules in total over an eight-years period. Trina will begin accepting delivery of polysilicon supplies at predetermined prices in April of 2008. That won’t be a steady or constant annual yield as the start deliveries are likely far smaller today than would be expected several years out.
Trina Solar noted that it has now secured about 95% of its estimated silicon feedstock requirements for 2008, which represents an equivalent of about 195 MW based on a production target of 200 to 210 MW of module output.
Trina Solar shares are up close to 4% at $34.00 in early pre-market trading, and its 52-week trading range is $25.88 to $73.06.
Jon C. Ogg
April 2, 2008
Jon Ogg produces the Special Situation Investing Newsletter and he can be reached at [email protected]; he does not own securities in the companies he covers.
It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.