POWERGRID Wins Contracts to Evacuate 18 GW of Renewable Energy

MNRE Seeks Feedback on Guidelines for PM-Surya Ghar Rooftop Solar Program

Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal

EU Member States Sign Solar Charter to Boost Domestic Manufacturing

Daily News Wrap-Up: NTPC’s 1 GW Wind-Solar Hybrid Auction

Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

<p>The Vietnamese arm of Trina Solar, a Chinese module and cell manufacturer, has signed a $30 million credit agreement with VietinBank in the province of Bac Giang, Vietnam.</p>
<p>This is the first credit facility provided by VietinBank to a Chinese solar photovoltaic (PV) company. The money will be primarily used to fund and finance the production and operation of Trina solar assets in Vietnam.</p>
<p>&#8220;We have witnessed Trina solar plant&#8217;s entire development journey from starting construction to going into mass production in Bac Giang. With the favorable new energy policies enacted by the Vietnamese government, we have reasons to believe that Trina Solar will be a great success in Vietnam,&#8221; said Tran Minh Bin, executive director of VietinBank.</p>
<p>According to Mercom India Research’s <em><a href="https://mercomindia.com/product/mercoms-india-solar-market-share-report/" target="_blank" rel="noopener">India Solar Market Leaderboard 2018</a> Report</em>, <a href="http://www.trinasolar.com/" target="_blank" rel="noopener">Trina Solar</a> was the single largest supplier of modules to India in 2017. It accounted for <a href="https://mercomindia.com/trina-module-nextracker-tracker-supplier/" target="_blank" rel="noopener">11 percent</a> of the market share.</p>
<p>Recently, <a href="http://www.trinasolar.com/en-glb/index" target="_blank" rel="noopener">Trina Solar</a> also <a href="https://mercomindia.com/trina-solar-aquires-spanish-nclave/" target="_blank" rel="noopener">completed th</a>e acquisition of Nclave Renewable, a Spanish solar tracker system manufacturer. This was the first time that a Chinese solar company acquired a solar tracker producer outside of its home market.</p>
<p>Trina Solar Treasury Director Tian Hong added that Trina Solar will continue to increase its investment in Vietnam and extend the partnership with VietinBank to include investment in local downstream power stations and engineering, procurement and construction (EPC) services companies.</p>
<p>Vietnam has become an important destination for investment in renewable energy for companies seeking new markets.</p>
<p><a href="https://mercomindia.com/ja-solar-68-4-million-loan-solar-wafer-factory-vietnam/" target="_blank" rel="noopener">Recently, in a similar deal</a>, JA Solar Vietnam, a wholly-owned subsidiary of Chinese solar manufacturer JA Solar, completed a long-term buyer credit loan agreement for $68.4 million from China Minsheng Bank Corporation Limit.</p>
<p><a href="https://www.siemens.com/" target="_blank" rel="noopener">Siemens</a>, a Germany-based supplier of transmission, distribution and smart grid solutions, <a href="https://mercomindia.com/siemens-equipment-58-mwp-solar-vietnam/" target="_blank" rel="noopener">recently won a contract</a> with Trung Nam Group to supply equipment to Vietnam’s largest solar park in operation.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nitin/" class="vcard author" rel="author"><span class="fn">Nitin Kabeer</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft wp-image-9822" src="https://mercomindia.com/wp-content/uploads/2018/04/nitin-2.png" alt="" width="99" height="105" /><span style="font-family: Calibri"><span style="color: #000000"><span>Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism &amp; Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. <a href="https://mercomindia.com/author/nitin/">More articles from Nitin Kabeer</a></span></span></span></p>
</div></div><div class="clearfix"></div></div></div>

Trina Solar Signs $30 Million Credit Agreement with VietinBank

vietinbank

Get the most relevant India solar and clean energy news.

RECENT POSTS