Trina Solar Limited (NYSE: TSL), an integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, announced Thursday it has entered into a sales agreement with Proinso (Proyectos Integrales Solares S.L.), a distributor of solar photovoltaic equipment and a specialist in engineering services in Europe.
Under the terms of the agreement, Trina Solar will supply Proinso with approximately 108 megawatts (MW) of PV modules at predetermined prices.
Proinso has an option to purchase an additional 12 MW in the first quarter of 2010. Shipments are expected to commence in 4Q09 and are scheduled to continue through the first half of 2010. The modules are expected to be used in solar projects in the European markets, including Italy and Spain. Shipment deliveries of 38 MW and 42 MW are expected to be made in 4Q09 and the 1Q10, respectively.
Financial terms were not disclosed.
"We are excited to be expanding our existing relationship with Proinso, and we look forward to continuing this relationship into 2010 and beyond," said Ben Hill, Vice President of Sales and Marketing (Europe) at Trina Solar. "The combination of Proinso’s extensive experience and expertise in solar energy products, coupled with Trina Solar’s recognized quality, will allow us to further increase market share in established markets across Europe."
Proinso is part of the OPDE Group business group, which is comprised of the companies mecasolar, Proinso, and OPDE. The group offers a complete solution that includes dual-axis solar tracker manufacturing, materials engineering and supply, installation and global development and construction of photovoltaic solar plants.
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