PV manufacturer, Trina Solar, recently announced the sale of its solar power plant in Trehawke, UK to one of the leading private equity investment companies in the world, Foresight Group. The plant is one of two Trina Solar projects in the UK that were connected to the national grid in early 2014.
The 10.6MW facility used over 41,404 high quality solar modules developed by Chinese manufacturer, Trina Solar and has been providing a significant amount of renewable energy to the region.
Trina Solar overseas expansion booms with UK plant sale
Ricardo Pineiro of Foresight Group noted in his official statement that the company was delighted to acquire the 10.6 MW Trehawke solar power plant and this agreement would be a prime example of international companies working together to provide quality service to the public.
The CEO of Trina Solar, Jifan Gao, also stated that this transaction would mark the beginning of Trina Solar’s overseas expansion as they begin to introduce their projects to countries all over the world. It also marks their foray into the UK market.
Successful completion of the transaction would elevate Trina Solar’s opportunities to continue their pipeline in the UK and soon enough more of their projects may see the light of day in the country. As a matter of fact, Trina Solar has around 49.9 MW of solar power projects currently being built in the UK.
Trina Solar company plans to continue renewable project growth
All of these new projects are expected to be open and fully operational by the end of the first quarter in 2015. This would be just weeks ahead of the withdrawal of the Renewable Obligation Certificate subsidy given to solar plants larger than 5 MW.
Trina Solar also announced that following this transaction the company will look forward to the sales of other projects currently in development or planned for development in 2015 and onwards. The company hopes that the transaction with Foresight Group will help establish their credentials in the UK.
The Trehawke power plant is already enough to power well over 45,000 households especially now that newer studies are showing more and more homes are using less energy than in previous years. It may be due to rising costs of grid power or due to changing living habits.
Trina Solar Limited was founded in 1997 and initially began as a photovoltaic system integrator. Now in 2015 the company has evolved into one of the leading developers, installers, and distributors of smart green energy all over the world.
Energy giant China contending for highest solar production globally
Trina Solar has greatly affected their home in China, which is still one of the leading buyers of coal and is one of the leading producers of carbon emissions. Since Trina Solar took hold of the local Chinese market, the country had seen a revolutionary improvement.
These days, China has taken over as the 2nd leading country with the most solar power production – amassing a total of 23 GW. How Trina Solar will use their influence and skills in the UK has yet to be seen but the deal with Foresight Group is a step in the right direction for the country and the company.