Under a framework investment agreement, PingAn Trust and Jiangsu Jiuzhou will provide convertible loans for the projects.
At a predetermined stage, the investors will be allowed to convert the loans into minority interests in the project companies.
In 2014, Trina Solar established Jiangsu Trina Solar Power Investment & Development as a holding vehicle to take advantage of increasing demand in China and strengthen its position in the downstream PV segment.
The investors will be allowed to take part in the potential capital operation of the holding vehicle in the future.
The company and Investors are identifying the portfolio of projects that need to be financed.
Trina Solar chairman and chief executive officer Jifan Gao said: "In recent years, China’s demand for new energy has been growing quickly. According to the government’s plan, China’s photovoltaic power installation capacity will reach over 100GW by 2020.
"Ever since the full-scale launch of our downstream business in 2013, we have made a number of significant achievements. In 2015, we will use this strategic collaboration as an opportunity to further reinforce and expand our leading position in China’s PV market."
PingAn Trust general manager of industry department Yuhang Li said: "We are delighted to work with Trina Solar to jointly develop solar projects in China that will generate stable and recurring cash flows in line with our investment strategy and the Chinese government’s objectives."
Image: Trina Solar will develop between 500MW and 1,000MW of photovoltaic power plants in China over the next three years. Photo: Courtesy of Naypong/FreeDigitalPhotos.net.
