Trina Solar will invest a further $420 million in the northern province of Thai Nguyen, a delegation of the China-headquartered solar panel maker said on Sunday.
The delegation featured Gao Jifan, founder and chairman, and Yang Xiaozhong, chief brand officer. The firm started investing in Thai Nguyen in 2016, with two projects in Yen Binh Industrial Park, comprising $203 million for solar energy module and panel production and $275 million for silicon wafer production.
The $420-million investment, also Trina Solar’s third-phase investment, is set to take place in Yen Binh Industrial Park, thanks to the stable production of the two other factories. This is also Trina Solar’s biggest foreign investment so far in solar energy, the firm said.
In reply, Thai Nguyen Chairman Trinh Viet Hung said the province, as one of the biggest production hubs in Vietnam with a favorable investment environment, will facilitate the investment.
On the same day, the Trina Solar delegation had a meeting with Deputy Prime Minister Tran Luu Quang. Lauding Trina Solar’s investment of nearly $900 million in Thai Nguyen, Quang said investment in renewable energy and solar energy is the global trend and also Vietnam’s priority. He urged the firm to facilitate more Vietnamese firms to participate in its supply chain.
The firm should also focus on reducing selling prices, boosting the efficiency of solar energy storage equipment, and handling of environmental pollution from expired items, Quang added.
For his part, Gao Jifan appreciated the support of the government and Thai Nguyen province for Trina Solar’s project, while hailing Vietnam’s renewable energy development policy amid the rising demand for green and eco-friendly products from Vietnam’s major trade partners.