Vertically integrated Chinese solar company Trina Solar has today announced the sale of its 10.6 MW PV plant located in Trehawke, U.K. in what is the companys first downstream activity in the country.
The solar farm, located in the southern English county of Cornwall, was the first of two Trina Solar UK projects that were connected to the British national grid in the first quarter of this year.
Trehawke built using 41,404 Trina Solar TSM-255-PC05A high quality modules will now be owned and operated by Foresight Group LLP, a leading private equity investment company.
"We are delighted to acquire the 10.6 MW power plant from Trina Solar; a company that has a successful track-record of delivering value to its clients," said Foresight’s director and head of U.K. solar, Ricardo Pineiro. "This transaction with Trina Solar showcases the strength of working with a partner with international credentials, and we look forward to further cooperation with Trina Solar in the near future."
Jifan Gao, Trina Solar’s CEO, added: "This is an exciting step forward for Trina Solars overseas downstream expansion and underscores our continued momentum in the U.K.
"Successful completion of this sale will allow us to redeploy resources on other projects and to further expand our pipeline in the U.K."
Trina Solar currently has 49.9 MW of projects currently under construction across the U.K., all of which are expected to be completed by the end of Q1 2015 just ahead of the impending April 1, 2015 change in subsidy that sees the withdrawal of the Renewable Obligation Certificate (ROC) scheme for solar plants larger than 5 MW.
"Our pipeline of projects has attracted several potential buyers," added Gao. "We look forward to more sales in the near future and will continue our project development through the outstanding efforts of our company and local strategic partners."