Boston, MA 10/13/2014 (wallstreetpr) – Trina Solar Limited (ADR) (NYSE:TSL) has agreed to vend one of its UK power plants to funds supervised by Foresight Group LLP.
About The Contract
The China-based leading photovoltaic modules provider announced that it has signed an agreement with Foresight regarding the selling of a UK power plant. According to PR Newswire news, the two parties signed a contract on Sept 30. As per the deal, Trina Solar Limited (ADR) (NYSE:TSL) will sell off its 10.6 megawatt photovoltaic power plant to the funds overseen by Foresight. The largest Chinese profitable panel maker said in a statement that it expects to see the results from the sale in the revenue of the present quarter.
The issue concerns Trina’s Trehawke, UK plant, the first one of the company’s two UK projects which were joined to the grid in the Q1 of 2014. It is a utility-scale solar power plant and uses as many as 41,404 Trina Solar TSM-255-PC05A units. The modules offer high quality, superior and durable performance. It generates around 10,300 MWh of electricity annually.
The second UK project is under construction, and the company seeks to finish it by Q1, 2015. The Changzhou-based company is building 49.9 MW solar projects in the country.
Expansion Plans
Foresight’s acquisition of the Trehawke plant highlights the company’s scheme of investing in high-quality operational assets that have been developed by industry leaders. The company seeks to generate revenue and promising returns for its investors with such acquisitions and line-up of assets. The power plant concerned has been responsible for delivering excellent value to its clients and holds a powerful success record.
On the other hand, for Trina Solar Limited (ADR) (NYSE:TSL), the move marks another step closer to its overseas downstream expansion plans. Trina has shown continued advancement in the UK, and the sale of the Trehawke plant will allow the company to restructure resources to focus on building new projects in the country.
