Published on February 24th, 2016 | by Joshua S Hill7
Trina Solar Remains World’s Number 1 Solar PV Module Producer, Says GlobalData
February 24th, 2016 by Joshua S Hill
Chinese solar PV manufacturer Trina Solar remained the world’s top solar PV module producer in 2015, according to research and consulting firm GlobalData.
According to GlobalData, Trina Solar held on to its position as the world’s number one producer of solar PV modules in 2015, producing 4.55 GW of crystalline modules. GlobalData attributed much of this success to Trina Solar’s “efforts to expand its presence in key markets across the globe” which has provided the company with numerous extra opportunities to sell their product.
“Trina Solar has experienced impressive results over the past year,” explained Ankit Mathur, GlobalData’s Practice Head for Power. “For example, it has announced a new efficiency record of 22.13% for its mono-crystalline silicon solar cell, which breaks the previous record of 21.40% and demonstrates an impressive efficiency improvement of 0.73 percentage points within only one year.
“In addition, the company has announced a new manufacturing base in Thailand to add 500 MW module and 700 MW cell capacities, and this, along with its Malaysia facility, will help to expand Trina Solar’s production and boost competitiveness in global markets.”
Trina Solar also finished off 2015 by restructuring its company, splitting into two separate units — a China system business unit (SBU) and an international SBU, designed to reflect the company’s “strategy and ambitions to become a first-tier global player in the downstream business.” The move came immediately after receiving a buyout offer from the company’s own Chairman and Chief Executive.
In second place behind Trina Solar was Canadian Solar, which claimed second spot with 3.9 GW in 2015 — a year which also heralded the acquisition of Recurrent Energy for approximately $265 million in cash.
“The acquisition enables Canadian Solar to more than double its total and late-stage solar project pipelines, and propelled the company from fourth in 2014 up to second place last year, overtaking Yingli and JinkoSolar,” Mathur added.
“Canadian Solar has a substantial global project pipeline, a strong downstream project development business and offers low manufacturing costs. The company has also begun to offer a new upgraded warranty on its polycrystalline PV modules by guaranteeing a lower first year power output degradation.”
Canadian Solar’s 2015 was so good, in fact, that the company has recently raised its guidance for its fourth quarter and full year financial reports. Canadian Solar announced that it was raising yearly guidance significantly, thanks in part to a supremely strong fourth quarter.