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Trina Solar shipments near doubled

Trina Solar has released its 2009 year results, revealing that the company has almost doubled its solar module shipments to 399 MW.

Net income reached US$97.6 million, an increase of 59% from 2008.

The year’s revenue totalled US$845.1m, which is an increase of 1.6% on last year’s results. EBIT also increased by 35.4% from US$100.0m to US$135.4m.

Trina Solar says the increases are due to a fall in the cost of silicon purchase prices and reductions in non-silicon manufacturing cost per watt in 2009.

Jifan Gao, Chairman and CEO says: "Our increased brand recognition and ongoing commitment to improving customer support in key areas resulted in the near doubling of our shipment volumes and a year-on-year revenue increase in 2009.”

2010 outlook

In 2010, Trina Solar intends to continue its work in cutting costs in non-silicon manufacturing by improving technology and the manufacturing process. Along with cutting costs the company will focus on meeting current demand by expanding its annual production capacity to between 850 MW and 950 MW.

Trina Solar also predicts total solar PV module shipments to reach 750-800 MW in 2010.

Share price down 3.6%

By 16.30 GMT on 24 February, the Trina Solar share price had fallen 3.6% to US$22.82 from an opening price of US$23.70. 

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Photovoltaics (PV)  •  Policy, investment and markets  •  Solar electricity