Trina Solar Cell (Vietnam) Co., a unit of China-based photovoltaics (PV) company Trina Solar, has received a license to build a $454-million solar cell plant in Thai Nguyen, the third of its kind in the northern province.
The new facility will be located on an area of 14.1 hectares in Yen Binh Industrial Park and construction is expected to start in May, heard the investment certificate granting ceremony held by the Thai Nguyen Industrial Zones Authority on Monday.
Once operational, scheduled for March 2025, the plant will churn out 11,500 tons of monocrystalline silicon bars, 555 million monocrystalline silicon wafers, and 560 million solar panels per year.
The latest move has brought Trina Solar’s investment tally in Vietnam to $932 million. The existing two projects, also located in Yen Binh Industrial Park, include a $203-million PV cell and PV module plant and a $275-million monocrystalline silicon bar and wafer plant. The two projects generated revenues of nearly $1.2 billion in 2023 and employ around 1,400 workers, 90% of whom are Vietnamese.
With the third plant coming into operation, Trina Solar is expected to book revenues of a combined $2.7-2.8 billion per year and employ a total workforce of 4,300.
The Thai Nguyen Industrial Zones Authority reckons that the three Trina Solar projects all meet high-tech criteria are environmentally friendly, and align with the province’s investment orientations.
Founded in 1997, Trina Solar Co., Ltd. is mainly engaged in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules.
It has set up regional headquarters in Zurich, U.S. Silicon Valley, Miami, Singapore, Dubai, as well as manufacturing bases in the U.S., Thailand, Vietnam, Indonesia, and UAE with operations in more than 160 countries and regions around the world.