Trina Solar signs framework deal with Low Carbon for at least 1 GW

Chinese solar panel maker Trina Solar Co Ltd (SHA:688599) said on Thursday it has entered into a three-year framework agreement for the supply of at least 1 GW of photovoltaic (PV) modules to Low Carbon Ltd.

The renewables developer plans to use the equipment for multiple projects throughout Europe, including in the Netherlands and the UK. The announcement did not give more details about any individual developments.

Trina Solar will deliver Vertex N 605W and Vertex 670W+ series modules for the first of those projects. It said that the framework deal provides planning security for project pipelines and will help speed up the contracting process for future orders.

At the very end of last summer, Low Carbon announced the closing of a senior debt facility with an initial commitment of GBP 230 million (USD 277.6m/EUR 258.8m) from NatWest, Lloyds Bank and Ireland’s AIB. As mentioned at the time, the financing was allocated for the construction of large-scale solar projects in the UK and the Netherlands with an expected overall capacity of at least 1 GW.

Eventually, Low Carbon announced the start of construction work on four Dutch solar farms totalling 53 MWp and plans for three UK projects with a combined capacity of 75 MW.

(GBP 1.0 = USD 1.207/EUR 1.125)

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