The agreement includes government support in respect of land and electric power supply for the production facility targeted to reach 10,000 metric-ton capacity through an estimated total investment of $1 billion by the end of 2012.
Jifan Gao, chairman and CEO of Trina Solar, said: We are extremely pleased by the strong support under this Lianyungang partnership, which is expected to provide key economic and logistic advantages within our own Jiangsu operating base.
In regard to our financing requirements, we are examining several alternatives to minimize any near term dilution associated with this project. These include negotiating a reduced investment cost from the preliminary estimated $455 million for initial phase of 3,500 metric-ton capacity, reducing initial phase scale from previously announced 3,500 metric- ton capacity.
