11 Jan 2011 08:00

Trina Solar expects 2010 sales revenue of over $1.51 bln

Beijing. January 11. INTERFAX-CHINA - New York Stock Exchange-listed Trina Solar Ltd. expects to log sales revenue of over RMB 10 billion ($1.51 billion) for 2010, a company official said at a news briefing held by the China New Energy Chamber of Commerce in Beijing on Jan.10.

"More than 80 percent of our products are sold to Europe, between 12 percent and 13 percent to the US and the remaining seven to eight percent to other countries," Yang Xiaozhong, vice president of Trina Solar public affairs department, said at a news briefing for the upcoming 5th China New Energy International Forum.

Jiangsu Province-based Trina Solar plans to boost its sales revenue to between RMB 50 billion ($7.53 billion) and RMB 60 billion ($9.04 billion) by 2015, Yang said. The company's sales revenue grew from $831.9 million in 2008 to $845.1 million in 2009, according to company statistics.

Trina Solar has seen its annual production capacity of photovoltaic (PV) modules grow from 6 megawatts (MW) in 2004 to 600 MW by end of 2009. In 2010, the company boosted its production capacity to 1,000 MW, according to Yang.

The company expects to increase its global market share from seven percent in 2010 to between nine and 11 percent by the end of this year, Yang said.

According to Yang, Trina Solar plans to build a national PV technology lab this year in order to strengthen its research and development (RD) capacity.