Trina Solar secures $235m green loan for Texas factory
- Trina Solar secures $235 million green loan for 5-GW solar panel factory in Texas, creating 1,500 local jobs and expanding presence in renewable energy market.
Trina Solar has secured a USD 235 million green loan to build a 5-GW solar panel factory in Texas. Standard Chartered Plc served as the lead structuring bank for the loan, which will finance the development, construction, and operation of the factory in Wilmer, Texas. The factory will cover 1.35 million square feet and have an annual production output of 5.0 GWdc, with seven assembly lines producing solar panels for various applications.
The new factory is expected to create 1,500 new local jobs in Texas. Trina Solar's investment in the US solar panel manufacturing sector highlights the company's commitment to expanding its presence in the renewable energy market. The green loan will support the company's efforts to increase its production capacity and meet the growing demand for solar panels in the US and globally.
How will Trina Solar's new factory in Texas impact the solar industry?
- The new Trina Solar factory in Texas will significantly increase the production capacity of solar panels in the US, helping to meet the growing demand for renewable energy sources.
- The investment in the factory will create 1,500 new local jobs in Texas, providing a boost to the economy and supporting the renewable energy industry in the region.
- Trina Solar's commitment to expanding its presence in the US solar panel manufacturing sector demonstrates the company's dedication to sustainability and renewable energy development.
- The green loan secured for the factory's construction highlights the increasing interest from financial institutions in supporting renewable energy projects, signaling a positive trend for the industry.
- The factory's annual production output of 5.0 GWdc will contribute to the global supply of solar panels, further driving the adoption of solar energy as a clean and sustainable power source.