Trina Solar is planning to build a third $400 million factory in Vietnam, according to Reuters.
Trina Solar, one of the world’s largest solar panel makers by revenue, already has two factories in Vietnam, in Bac Giang and Thai Nguyen. Reuters sources familiar with the matter said Trina Solar is planning to open a third factory, covering 25 hectares and costing $400 million. One source said production would start in 2025. Another source said Trina has proposed investing $600 million in Vietnam.
Two existing factories have gone into production. One began producing silicon wafers (silicon wafers, the carriers of solar cells) last month with an expected annual output of 6.5 GW; the other produces cells and solar panels.
It is not yet clear what products the new factory will produce. The company is considering several industrial parks. A source said Trina consulted a feng shui expert before making a final decision. They are also considering power supply issues in the expansion plan due to concerns about the power shortage in June.
Trina did not respond to a request for comment, Reuters reported.
Last month, the US Commerce Department concluded that Trina was among five Chinese solar companies that used factories in Thailand and other Southeast Asian countries to avoid tariffs.
So far, the tariffs, which are expected to take effect in mid-2024, only affect Trina’s operations in Thailand. However, Chinese companies building factories in Southeast Asia to manufacture and export to the US are still being closely monitored.
According to S&P Global Market Intelligence, the region's leading producers account for about 80% of the US's solar panel supply, with Vietnam supplying about a third of the total number of panels imported into the US in the first quarter of 2023.
Trina is currently one of the largest solar panel manufacturers in Vietnam. The company's planned investments here are aimed at reducing the impact of trade tensions.
Duc Minh (according to Reuters)
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