Latest news with #TrinaSolar
Nikkei Asia
16-07-2025
- Business
- Nikkei Asia
Chinese solar companies shrink US footprint as Trump cuts incentives
Energy Loss of tax credits 'a huge blow' despite growing demand for renewables An employee at Trina Solar plant in Jiangsu province, China. Trina sold its U.S. solar module facility in Texas to T1 Energy in December 2024. © AP PAK YIU NEW YORK -- Chinese solar companies are retreating from the U.S. as the Trump administration's massive tax-and-spending act ends incentives for projects tied to China. Two leading manufacturers, JA Solar and Trina Solar, have sold panel factories in the past seven months and other Chinese companies are assessing their presence in the world's second-largest energy consumer.
South China Morning Post
28-06-2025
- Business
- South China Morning Post
Cloudy with a chance of bankruptcy: US tariffs hurt China's solar firms
The rain and gloomy skies during the SNEC PV Conference – the biggest in China's solar-panel manufacturing industry – summed up the mood in the market, whose major players congregated in Shanghai earlier this month for the four-day annual event. Advertisement The scale was noticeably smaller this year. Several leading companies opted out for a variety of reasons, including tight budgets. More tellingly, CEOs from major producers Longi Green Technology and Tongwei – keynote speakers last year – gave it a miss. The weariness is not surprising. The industry, billed as one of China's three new economic drivers along with electric vehicle and lithium battery manufacturing, is facing a double whammy: producers are swimming in a sea of red amid a price war and supply glut at home, while tariffs are blocking access to export markets. Prices in every segment of the solar panel supply chain plummeted by 60 to 80 per cent in 2024 from a peak in 2023, according to the China Photovoltaic Industry Association, with 39 of the nation's 121 listed producers in the red. Losses in the photovoltaic (PV) manufacturing value chain reached US$40 billion, according to Gao Jifan, chairman of Trina Solar. Including other business lines, the tally was US$60 billion, he said. 'Everyone is questioning how deep and prolonged this downturn will be,' Yang Liyou, general manager of solar-panel maker Jinneng Clean Energy Technology, said at a panel discussion during the conference. 'It has not eased. In fact, it's become deeper and longer than we anticipated.' Shares of Jinko Solar, the world's top solar panel maker in terms of shipment volume, have declined by nearly 30 per cent in New York this year, bringing the slump to more than 60 per cent from a peak in 2022. Rivals like JA Solar, Tongwei, Trina Solar, Longi, and GCL have slumped by as much as 80 per cent since 2022.
Morocco World
26-06-2025
- Business
- Morocco World
Trina Solar Eyes Morocco as Key Market in African Solar Expansion
Chinese solar manufacturer Trina Solar is seeking to expand its presence in Morocco as a priority market as part of its growth strategy in North Africa, citing the country's aggressive renewable energy goals and supportive government policies as key opportunities. Speaking to Morocco World News (MWN) at the Africa Energy Forum, held from June 17-20 in Cape Town, South Africa, Zaheer Khan, Trina Solar's Regional Director for Southern Africa, pointed out Morocco's strategic importance to the company's continental growth plans. Zaheer Khan, Trina Solar's Regional Director for Southern Africa 'Morocco's got quite aggressive targets for renewable energy by 2030 and numerous subsidies as well that are available in the market, which make it a very viable target segment for us,' Khan said. Trina Solar, one of the world's top three solar module manufacturers with global sales of 60-70 gigawatts last year, has established a strong African presence. The company supplied over one gigawatt of solar equipment across the continent in the past year and claims the number one market share in South Africa. Strategic partnerships and projects The company has positioned staff across key African markets, including Morocco, where Khan's colleague, based in the country, has identified promising opportunities, including a target of clean energy of 50% of electricity production by 2030. These also include Morocco's phosphate giant OCP's program of a 2GW solar project to reduce its carbon footprint, of which 200MW is already installed, as well as the country's huge solar projects, including Noor Midelt 1, 2, and 3 in addition to Noor Ouarzazate. Khan spoke of several projects being promoted by MASEN, the Moroccan Agency for Sustainable Energy, as particularly noteworthy prospects for Trina Solar's involvement. Beyond large-scale installations, Trina Solar sees potential in Morocco's solar pumping sector. Khan noted that 'the Moroccan government is also trying to promote moving some of the grid-connected solar pumping to off-grid, ideally solar pumping solutions.' This shift aligns with Trina Solar's diversified product portfolio, which extends beyond solar panels to include battery energy storage systems and tracker technologies. The company recently demonstrated its storage capabilities with a successful 350-megawatt-hour battery energy storage project in Egypt. Continental vision Khan also expressed optimism about expanding battery solutions throughout Africa, building on recent North African successes. 'Soon we hope to expand our battery solutions throughout the African continent and continue our success in this region,' he said. With offices in Kenya, Nigeria, and Morocco supporting operations across East, West, and North Africa, respectively, Trina Solar appears well-positioned to capitalize on the continent's growing renewable energy demand. The company's focus on Morocco reflects broader recognition of the country's leadership in renewable energy development, supported by government incentives that Khan described as making the market particularly attractive for international solar manufacturers. Morocco is setting a goal to achieve 52% energy production through clean, renewable sources by 2030, an ambition designed to boost the North African country's sustainable development goals.
Bloomberg
20-06-2025
- Business
- Bloomberg
South Africa Is a Gigawatt a Year Market for China's Trina Solar
China's Trina Solar expects to annually supply South Africa with solar panels and equipment that can generate a gigawatt of power due to ongoing demand for large-scale projects, according to its regional director. The company has supplied technology for photovoltaic projects with partners including EDF Renewables. It imported more than a gigawatt of equipment in the last 12 months, though demand has shifted among consumers in the most industrialized nation on the continent, Zaheer Khan, Trina's southern Africa director said in an interview in Cape Town.
The Star
15-06-2025
- Business
- The Star
Chinese solar firms bank on overseas expansion to survive amid US tariffs
Chinese solar and energy-storage companies will continue to press ahead with their overseas expansion with or without a long-term agreement on trade tariffs, as production abroad holds the key to their long-term survival, according to executives at China's largest solar industry exhibition. Although the US and China reached a 90-day truce in their ongoing tariff war in May, solar panel exports from China and Southeast Asia to the US are still subject to tariffs of as much as 3,521 per cent, with Washington citing unfair trade practices such as subsidies and dumping for the high levies. 'The industry used to say that you either go overseas or exit the game,' said Gao Jifan, chairman of Trina Solar, one of the world's largest solar-panel manufacturers, at the SNEC PV+ Photovoltaic Power Conference and Exhibition in Shanghai. 'Now, due to tariffs, simply exporting isn't enough; you must also localise production abroad.' Chinese firms are increasingly diversifying their production base in response to the trade tensions. Currently, about 80 per cent of existing Chinese solar manufacturers' overseas capacity – solar wafers, solar cells and modules – was in Southeast Asia, according to data from S&P Global Commodity Insights. However, nearly 80 per cent of their planned overseas capacity expansion was in the Middle East and Africa, followed by the US and Europe, it added. 'There is no clear indication of whether the tariffs will increase or decrease after the 90-day pause,' said He Lipeng, vice general manager of Qingdao Haier Energy Technology, the solar and energy-storage unit of Chinese electronics giant Haier Group. 'However, if tariffs were to rise to 200 per cent, [exports] would be impossible.' Haier Energy was considering using the US plants of its parent company, acquired from GE Appliances in 2016, to produce solar photovoltaic (PV) and energy-storage equipment, He said. The facilities are currently used for manufacturing consumer durables like refrigerators and washing machines for the US. He said no decision had been made on when the switch to manufacturing solar products would be made. The mood at the four-day event, which attracted some 3,000 companies from more than 100 countries, was sombre. Chinese solar PV companies, which dominate more than 80 per cent of global manufacturing capacity, have voiced concerns about the prolonged price war, expected to worsen this year, and challenging geopolitical conditions. You Xin, an analyst at S&P Global, said a sharp decline in planned capacity in Southeast Asia was due to the devastating US tariffs. As the US remained the most attractive market due to its high margins and size, the restrictions were forcing Chinese companies to divert capacities to other regions where the US tariffs were lower, she said. The Middle East and Africa were favourable destinations due to conducive government policies and huge demand, she added. The Middle East's cumulative solar capacity was projected to reach 160 gigawatts (GW) by 2033, an eightfold increase from 2023, because of ambitious national targets, according to Wood Mackenzie. Similarly, Africa's solar PV market was promising, with 140GW of new grid-connected capacity expected by 2033, with a third of these installations projected to come from Egypt and South Africa, the consultancy added. Jinko Solar was expanding its Middle East capacity with a 10GW solar project in Saudi Arabia, chairman Li Xiande said at a briefing hosted by the Shanghai Stock Exchange last month. CSI Solar, an affiliate of Nasdaq-listed Canadian Solar, was eyeing the Middle East, CEO Zhuang Yan said at the same briefing. Work was also progressing on CSI's 5GW solar module project in the US, which was expected to reach designed capacity in the second half of this year. 'In this industry, when we establish production capacity in various countries, it's not meant for those local markets,' said Zhang Haimeng, vice-president and chief sustainability officer of Longi, the world's third-largest solar-module maker. 'Whether [the capacity is] in Southeast Asia, Saudi Arabia, Oman or Ethiopia, the goal is to sell to the US. Building capacity based on local demand doesn't make economic sense; it's all geared towards the US market,' he said at the Shanghai solar conference this week. - SOUTH CHINA MORNING POST
