As per the agreement, convertible loan arrangements will be signed by the investors with Trina Solar aimed at supporting the downstream projects development in China.
At pre-determined time, the loans can be converted into minority stake in the project companies by the investors.
Additionally, bridge loans will be provided by the investors following completion of due diligence on the projects in order to meet the funding needs during the construction phase.
Trina Solar chairman and chief executive officer Jifan Gao said: "According to the government’s plan, China’s photovoltaic power installation capacity will reach over 100GW by 2020.
"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 Industry Department general manager 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."
Jiuzhou Investment president Shijin Luo said: "China is now in a new era of energy reform as it looks to promote green energy including solar energy production and consumption.
"As the world’s largest solar module manufacturer with an established global brand, Trina Solar has made steady progress in the downstream business in recent years. We view Trina as a trusted partner for our move into the solar energy business."
Image: China aims to have photovoltaic power installation capacity of over 100GW by 2020. Photo: courtesy of Pixomar/Freedigitalphotos.net.
