CHANGZHOU, China, June 8, 2016 /PRNewswire/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic (PV) modules, solutions and services, today is pleased to announce that its cumulative shipments of solar modules to India have exceeded 1 GW to date with around 20% market share in the region in 2015, cementing its position as a leading crystalline silicon(c-Si) modules manufacturer and supplier in the country.
Since it tapped into the Indian market at the end of 2010, Trina Solar has successfully built an extensive sales network throughout the country, offering innovative solar PV solutions to developers, distributors, engineering, procurement and construction (EPC) contractors, independent power producers (IPPs), and others.
India is emerging as one of the world's largest solar power markets. In June 2015, the Ministry of New and Renewable Energy (MNRE) revised its cumulative solar installation targets under its National Solar Mission to 100GW by 2022, aiming to surge ahead in the field of green energy. According to the MNRE, the total capacity of solar energy in India stood at approximately 5.8GW as of March 2016.
Ms. Helena Li, Company Vice President, Regional Head of Asia Pacific and Middle East at Trina Solar, said: "We are pleased to hit the 1 GW milestone in the Indian market and would like to thank our channel partners and end-customers for their strong support and commitment to the Trina Solar brand. With all modules fully operational in various projects in the region, Trina Solar's fleet could power an estimated 4.2 million homes in India and offset 1.4 million tons of carbon emissions annually when compared to traditional coal generation."
Ms. Li continued: "As the upward trend in solar demand continues, India remains one of the most important markets for us in global scale and is an integral part of our expansion strategy in South Asia. 1 GW is just a start, and we will continue working diligently to further expand and diversify our client base in the broader region based upon our existing sales network to strengthen our footholds in all segmented markets, while contributing to greenhouse gas emission reductions in India."
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a global leader in photovoltaic modules, solutions and services. Founded in 1997 as a PV system integrator, Trina Solar today drives smart energy together with installers, distributors, utilities and developers worldwide. The company's industry-leading position is based on innovation excellence, superior product quality, vertically integrated capabilities and environmental stewardship. For more information, please visit www.dgfurong168.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance its activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the Company's ability to operate as a public company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; demand in various markets for solar products; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.