Trina Solar Cell invests in new $454mln project in Thai Nguyen

The Industrial Parks Management Board of Thai Nguyen Province organized a ceremony on February 19 to present investment licenses to the legal representative from the Trina Solar Cell (Vietnam) Co., a unit of the China-based photovoltaics (PV) company Trina Solar, with total investment of $454 million at the Yen Binh Industrial Park.

This will be Trina Solar Group’s third project in the province, bringing its total investment in Thai Nguyen to $932 million.

It had previously implemented two projects at the Yen Binh Industrial Park with total investment of $478 million, including the production of photovoltaic cells (solar energy panels) and solar module panels, with investment of $203 million, and the production of Silicon ingots and monocrystalline Silicon panels with investment of $275 million.

Both projects adopt advanced environmentally-friendly technologies and are in line with Thai Nguyen’s orientation in investment attraction. The two projects are operating stably, recording revenue of nearly $1.2 billion in 2023 and providing about 1,400 stable jobs, of which 90 per cent are for Vietnamese workers.

Following on from the success of these projects, the Trina Solar Group has conducted and completed procedures to obtain an investment license for a third project at the Yen Binh Industrial Park, with a production scale of over 11,500 tons of monocrystalline Silicon ingots, 555 million monocrystalline Silicon panel products, and 560 million solar panel products a year. The project will sit on over 141,000 sq m, with total registered investment of $454 million.

Under planning, the project will commence construction in May and be completed and put into operation in March 2025. Upon project completion, the total value of Trina Solar Group’s output in Thai Nguyen is expected to rise from $2.7 billion to $2.8 billion a year, creating over 4,300 jobs.

Speaking at the ceremony, the legal representative from Trina Solar Cell committed to implementing the project in accordance with Vietnamese laws on investment and environmental protection, ensuring safety and adhering to the schedule, etc.

Founded in 1997, the Trina Solar Co., Ltd. is primarily engaged in PV products, PV systems, and smart energy. Its PV products include R&D into and the production and sale of PV modules.

It has set up regional headquarters in Zurich, Silicon Valley, Miami, Singapore, and Dubai, as well as manufacturing bases in the US, Thailand, Vietnam, Indonesia, and the UAE, with operations in more than 160 countries and regions around the world.