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Trina Solar gets $100m finance boost for Honey cell roll-out
China’s Trina Solar has obtained a three-year loan facility of up to $100m to fund the roll-out of its high-efficiency Honey cell.
The finance from Standard Chartered Bank will also support a 500MW expansion of Trina’s cell and module production capacity.
Laboratory tests confirmed by TUV Rheinland last year showed that a module with 60 Honey cells reached a record 274 Watt peak, says Trina.
It claims a typical flat rooftop system using Honey-based modules could produce over 18% more electricity per year than one with standard panels.
The loan may be drawn down in single or multiple tranches within the first 12 months. Each tranche is for a term of up to 36 months and can be extended for up to another two years.
Standard Chartered has worked with Trina Solar since 2008, providing short-term working capital and trade-financing facilities, as well as supporting the Chinese company's foreign exchange hedging.