Sept. 2 (Bloomberg) — Trina Solar Ltd., China’s largest
profitable panel manufacturer, agreed to buy a 90 percent stake
in the power-plant developer Yunnan Metallurgical New Energy Co.
The remaining 10 percent will be retained by the parent
company Yunnan Metallurgical Group Co. and two of its units,
Changzhou-based Trina said today in a statement. Terms weren’t
disclosed.
Trina is expanding its efforts to build solar farms,
including a 1-gigawatt project in the western Xinjiang region
announced in December. Yunnan Metallurgical is developing a 300-megawatt solar plant in Yunnan province, with construction
expected to begin this quarter, according to the statement.
“Developing strategic partnerships with select partners
demonstrates our flexibility in exploring downstream
opportunities in China,” Jifan Gao, chief executive officer of
Trina, said in the statement.
To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net
To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Robin Saponar