Trina Solar records 65.21 GW of solar panel shipments for 2023
Trina Solar says its solar panel shipments reached 65.21 GW in 2023. The Chinese module maker achieved a turnover of $15.75 billion and a net profit of $768.2 million in fiscal 2023, with an annual module production capacity of 95 GW by the end of December.
May 10, 2024 Vincent Shaw
Image: Trina Solar
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Trina Solar said it recorded $15.75 billion of revenue in 2023, up 33.32% year on year. Its net profit rose 50.26% to $768.2 million.
Its total PV module shipments reached 65.21GW in 2023, up 51.33% year on year. Its gross profit margin on module sales hit 15.54%. By the end of March 2024, Trina Solar's cumulative global module shipments surpassed 205 GW, with high-power modules based on 210 mm large-size wafers accounting for more than 120 GW of its total shipments.
The company's annual report highlighted significant growth across various business segments, with residential PV system shipments reaching 9.6 GW, for a 54.8% year-on-year increase. Its racking business delivered 9.6 GW (including 4.6 GW of trackers), marking a 118.2% year-on-year improvement. Trina Solar said it expects robust growth across these segments in 2024, with ambitious business targets of 80 GW to 90 GW of module shipments, a 20% expansion of its residential PV business, and 50% growth in its racking business.
Trina Solar's production capacity across polysilicon wafers, solar cells, and PV modules stood at 55 GW, 75 GW, and 95 GW, respectively, by the end of 2023. N-type TOPCon cells accounted for 40 GW of its solar cell capacity. Looking ahead, it said it will scale up its production capacity to 60 GW, 105 GW, and 120 GW for polysilicon wafers, solar cells, and PV modules, respectively.
Trina Solar's sales of large-scale energy storage containers and systems had penetrated six regional markets by the close of 2023, including China, Europe, Asia-Pacific, North America, Central and East Africa, and Latin America. Its cumulative shipment volume reached nearly 5 GWh. This year, it said it has solidified supply and strategic partnerships with energy companies such as Low Carbon, Pacific Green, and EcoSourcen.
Trina Solar allocated $768.1 million for R&D initiatives in 2023, up 19.69% year on year. The company is actively engaged in 26 R&D projects, with a particular focus on advancing energy storage solutions. These projects range from battery pack innovations to comprehensive system integration solutions.
Trina Solar said that short-term challenges stemming from price declines in the industrial chain due to heightened competition could affect enterprise profitability. However, the company noted that integrated enterprises with strong control over downstream component sales can safeguard their upstream operations, establish cost competitiveness, and expand market share.
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Chinese PV Industry Brief: GDEP secures 118 MW of Trina panels for $0.12/W
Guangdong Electric Power Development (GDEP) has bought 118 MW of Trina Solar panels for $0.12/W. It says it will use the modules for several solar projects in China’s Shandong province.
May 10, 2024 Vincent Shaw
Image: Trina Solar
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GDEP has completed its second round of PV module procurement tenders for 2024, obtaining 118 MW of n-type modules from Trina Solar in a single bidding segment. The winning bid was $14.2 million, with a unit price of $0.12/W. Trina Solar is set to supply its n-type Vertex series modules, featuring 210 mm silicon wafers, for a ground-mounted power projects spearheaded by GDEP in Dezhou, Shandong province.
JTPV said it shipped 10.08 GW of solar cells (1.52 GW of p-type cells and 8.56 GW of n-type) in the first quarter of 2024, up 109.56% year on year. The company reported an operating income of $516 million and a net profit of $2.75 million for the quarter. It also recorded overseas sales of $59.9 million, with international sales accounting for 11.62% of its total revenue. The company said it plans to expand its overseas production capacity by investing in solar cell production facilities across Southeast Asia, the Middle East, Eastern Europe, and the United States. In 2023, JTPV shipped 29.96 GW of solar cells (9.38 GW of p-type cells and 20.58 GW of n-type), up 179.43% year on year. According to InfoLink, JTPV was the solar industry's leading independent supplier of n-type cells in 2023.
Canadian Solar Inc. (CSI) said it recorded $1.329 billion of revenue in the first quarter of 2024. Its net profit was $36.223 million, down from $107 million in the first quarter of 2023. Its solar module shipments hit 6.3 GW in the first quarter, up 4% year on year. CSI attributed its performance to lower PV product prices. Looking ahead, the company said it expects total revenue for the second quarter to fall within the range of $1.5 billion to $1.7 billion. It said its module shipments will be between 7.5 GW and 8 GW for the quarter, which includes 100 MW designated for company-owned projects.
pv-magazine.com
My comments:
12 cents per watt.
Damm,
that's "too cheap to meter" electrical power!
Eric |
