Chinese solar manufacturer Trina Solar has signed its biggest engineering, procurement and construction (EPC) deal to date, with a $700 million contract to work on 35 solar projects with a total generation capacity of 970 MW.
Module giant Trina will supply project development and design, procurement and EPC management services for solar plants in Europe and Latin America for the Spanish Ocena Invest S.L. subsidiary of impact investor The Rise Fund, which is itself owned by San Francisco-based private equity, leveraged-buyout investor TPG Capital.
The contract, which will include solar facilities in Spain, Chile, Mexico and Colombia, will run for two-and-a-half years, with the PV plants all set to be operational during 2022.
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Trina, which yesterday described the contract as a “breakthrough in [the] sales of [a] mass projects package,” expects to achieve 20% of the contract value this year.
TPG claims to manage assets worth more than $79 billion and is establishing its Matrix Renewables clean energy portfolio under Ocena Invest.
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