TSL stock spiked in early trading Monday after Trina Solar (TSL) announced a solar power plant project in western China.
The solar-power products manufacturer is finishing a great year with a deal with will benefit both TSL stock and the Xinjiang Region of China. Here are 3 things you should know about the solar power plant project between Trina Solar and the Chinese government.
- The deal will help create solar power plants totaling 1GW in Xinjiang. These will be built over four years in multiple phases. The first two phases of the project with installed capacity 300 MW will be completed and connected to the State Grid by the end of 2014.
- Trina Solar CEO Jifan Gao said that the project will be the largest solar power plant project in Xinjiang after it is completed. “The solar plants will ensure a stable supply of clean energy and improve reliability of electricity supply to the surrounding regions,” Gao said. “At the same time, the module production facility will also create jobs and stimulate the growth of the local economy.”
- TSL stock is up 6% in early trading Monday following the company’s announcement. Trina Solar stock has enjoyed a profitable year with shares up 225% YTD.