Trina Solar announced that its accumulative shipments since 2005 have exceeded 15 GW as of the end of Q3, 2015.
Total module shipments from the company’s manufacturing facilities were 1,703.2 MW, consisting of 1,353.2 MW of external shipments and 350.0 MW of shipments to the company’s own downstream PV power projects.
Total module shipments increased 38.3 percent sequentially and 60.1 percent year-over-year.
Total PV power projects connected to the grid were 251.9 MW in the third quarter, making the total retained projects reach 610.4 MW.
Trina Solar maintained strong growth momentum in China and the US, with record shipments to both markets and continued to execute our strategy to increase our presence in new and emerging markets, such as India and Thailand, company officials said.
New and emerging markets have become the company’s third largest destination for shipments over the past two quarters.
The company reported net revenues of $792.6 million, an increase of 9.6 percent from the second quarter of 2015 and 28.5 percent from the third quarter of 2014.
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Gross margin was 17.4 percent, compared with 20.0 percent in the second quarter of 2015 and 16.7 percent in the third quarter of 2014.
The company has increased its market share from approximately 1 percent in 2005 to more than 10 percent anticipated in 2015.
The company raised its guidance for 2015 total PV module shipments to 5.5 GW to 5.6 GW from its original guidance of 4.9 GW to 5.1 GW, of which 4.6 GW to 4.7 GW will be shipped to third party customers. The revised guidance represents an increase of 50.3 percent to 53.0 percent from 2014.
The company achieved a number of breakthroughs in R&D, including developing the high-efficiency p-type multi-crystalline silicon solar cell of 21.3 percent efficiency. It also made key advances in silicon-based heterojunction (HJ) cells, where we achieved 22.0 percent efficiency in the laboratory.
In another innovation the company installed ‘Desert Double Glass’ module for hot and dry climates that will be ready for production by the end of the year.
The company has also established the Energy Management System ISO50001/GBT23331 in an effort to improve the PV industry.
“Looking ahead, the increasing rate of solar adoption globally in both developed and emerging markets will be further augmented by the growing percentage of power generated by solar,” said Jifan Gao, chairman and CEO of Trina Solar.
“With our leading technology, cost advantage, diversified financing channels, and flexible manufacturing model, we are confident that Trina Solar is well-positioned to capture the many opportunities that lie ahead for the foreseeable future,” Gao added.
Rajani Baburajan