Trina Solar Limited (NYSE: TSL) has announced that it has signed a long-term polysilicon supply agreement with a subsidiary of GCL Silicon Technology Holdings Ltd.
Under the terms of this agreement, GCL Silicon Technology will supply Trina Solar with virgin polysilicon supplies that are sufficient to produce roughly 2,600 MW of solar modules in total over an eight-years period. Trina will begin accepting delivery of polysilicon supplies at predetermined prices in April of 2008. That won’t be a steady or constant annual yield as the start deliveries are likely far smaller today than would be expected several years out.
Trina Solar noted that it has now secured about 95% of its estimated silicon feedstock requirements for 2008, which represents an equivalent of about 195 MW based on a production target of 200 to 210 MW of module output.
Trina Solar shares are up close to 4% at $34.00 in early pre-market trading, and its 52-week trading range is $25.88 to $73.06.
Jon C. Ogg
April 2, 2008
Jon Ogg produces the Special Situation Investing Newsletter and he can be reached at [email protected]; he does not own securities in the companies he covers.
ALERT: Today Could Be Your Best Shot At Early Retirement (Sponsored)
If you want to retire before 65, pay attention. Study after study has shown that the longer you stay invested, the better your chances at an early retirement.
Every day that goes by without saving and investing for tomorrow means more to earn and save later. Don’t waste any more time and get started with Robinhood today. The app makes it easy to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.