Trina Solar has signed a share purchase agreement on September 30, 2014 to sell the 10.6MW PV power plant located in Trehawke, UK to funds managed by Foresight. This is the first of two Trina Solar UK projects that connected to the grid in Q1 2014.
The utility-scale Trehawke solar power plant utilizes 41,404 Trina Solar TSM-255-PC05A modules that provide high quality, durability and performance. The solar power plant generates 10,300 MWh of electricity every year.
The transaction is consistent with Foresight’s strategy to invest in high quality operational assets built by world-leading tier one solar power system developers, such as Trina Solar and which offer stable returns for investors, said, Ricardo Piñeiro, director, head, UK Solar, Foresight.
This transaction with Trina Solar showcases the strength of working with a partner with international credentials, and we look forward to further cooperation with Trina Solar in the near future, added, Piñeiro.
Successful completion of this sale will allow to redeploy resources on other projects and to further expand our pipeline in the UK. Currently company has an additional 49.9MW project under construction in the UK expected to be completed in Q1 2015, which has attracted the interest of several potential buyers, said, Jifan Gao, CEO, Trina Solar.
The revenue from the sale of the Trehawke power plant will be recognized in Q3 2014.