Trina Solar To Establish JV With Yabang Investment - Quick Facts

(RTTNews) - Trina Solar Limited (TSL) announced an agreement to establish a joint venture with Yabang Investment Holding Group Co., Ltd. to acquire certain production assets from Changzhou NESL Solartech Co., Ltd., a subsidiary of Yabang Group, which specializes in the production of solar PV modules. The Joint Venture will be named Changzhou Trina Yabang Solar Energy Co., Ltd.

Trina Solar will hold a 51 percent stake in the Joint Venture and Yabang Group will hold the remaining 49 percent. The total investment by Trina Solar and Yabang Group is approximately $45 million, which will be used for capital expenditure and working capital.

The Joint Venture will acquire the existing module production assets of Changzhou NESL, including plants, machinery and equipment. The facility will be managed by Trina Solar management. The Joint Venture aims to increase total solar module production capacity to 500 MW within the next 12 months.