The power station, backed by investment totaling approx. US$220 million, covers 264 hectares. With a huge demand for PV products, the facility is the first combined wind and solar power generation plant in Vietnam and is expected to play a key role in the country's transformation to renewable energy. As a module supplier, Trina Solar differentiates itself from its peers with its recognized quality products, capabilities in supply chain management and core competitiveness in the APAC market.
During the signing ceremony, an executive from Trung Nam Group said, "Given that it is the group's first PV power plant investment, Trung Nam was very careful in selecting a leader in technologies, products and raw materials as its supplier partner."
Yin Rongfang, vice president and head of global sales and marketing at Trina Solar, said, "We are honored to partner with Trung Nam in the integrated renewable power generation project that set new benchmarks in the industry in Vietnam, marking one further step in Trina Solar's commitment to emerging markets. With a deep understanding of the Vietnamese market, we have built a 1GW solar cell production facility in the country, in addition to several new projects under development."
He added that Trina Solar-branded products will become increasingly available in Vietnam, helping boost the company's sales in the APAC region.
Mr. Yin indicated that as a leading global module manufacturer, Trina Solar has built a strong overseas sales and operations team with products sold to over 100 countries and regions across the world. By the end of 2017, the company's accumulated shipments totaled 32GW, ranking the firm the first among module manufacturers worldwide.
In 2017, Trina Solar's global shipments amounted to more than 9GW, over 60 percent of which were delivered to locations outside of the PV manufacturer's home market. Mr. Yin said, "In addition to the continuous growth in Europe, among other traditional markets, our products have been gaining momentum and increasing popularity in the Middle East, Latin America and APAC since the beginning of the year. With the continuing success in emerging markets, our orderbook has far exceeded expectations." As the third quarter of 2018 arrives, Trina Solar's modules continue to sell well across the world while the company's production facilities located in and outside China are running at full capacity. Trina Solar is expanding its supply capabilities with the aim of addressing the increasing demand for its products.
Although the domestic demand for residential and utility-scale ground solar PV installations decreased due to new government policies for the PV market enacted on May 31, 2018, Trina Solar is strengthening its capabilities in terms of expanding into overseas markets as part of its long-term development plan and strategy of balancing its focus in both traditional and emerging markets. With these efforts, the company has enhanced its abilities at risk control, which helps mitigate the impact from the new policies and the growing trade war in several markets where it has a presence. The company continues to leverage its strengths in manufacturing and market development with the aim of delivering benefits across the value chain, especially in emerging markets and throughout the overseas supply chain, in addition to improving global competitiveness.