Trina Solar has revealed that it aims to raise CNY 8.8 billion ($1.3 billion) by issuing convertible corporate bonds. It said it will use the net proceeds from the operation to expand its n-type ingot capacity at a new factory in Xining, in China's Qinghai province.
The factory will have an annual capacity of 35 GW. The required investment for its construction is about CNY 8.58 billion, of which CNY 6.28 billion will come from the bond issuance.
Trina Solar said it will be the factory in two 15 GW phases. Completion is scheduled within 24 months from the start of construction.
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