Trina sees up to 6.5GW this year as 2015 sales and profits shine

PV module market-leader Trina Solar predicted shipments of up to 6.55GW for 2016 as it unveiled full-year financial figures showing healthy increases in sales and profits.

Trina’s guidance range of 6.3GW-6.55GW compares to the 5.74GW of modules it shipped in 2015 – which was itself a 57% uplift on the 2014 figure.

The Chinese group posted a 33% year-on-year increase in net revenues to $3bn for the year to December, with gross profit growing by almost half to $566m.

Net profits spiked 29% to $76.5m at the New York-listed company.

CEO Jifan Gao said the year had been capped off by a record fourth-quarter performance that saw shipments of 1.78GW.

“2015 was in many ways a strong year for Trina Solar as we achieved record results on both a sequential and year-over-year basis in each quarter. During the year, we entered the Indian market and a number of other emerging markets, which helped to expand our global footprint from 43 to 63 countries,” Gao said.

Trina expects to grid-connect between 750MW and 850MW of downstream projects this year.

Gao late last year said he was part of a consortium that had made a preliminary offer to take Trina private, but did not comment on that issue in the statement announcing the 2015 financial results.

The likelihood of a strong challenge to Trina as global number-one in 2016 was underlined yesterday, when Chinese compatriot JinkoSolar said it expects to ship up to 6.5GW this year after a strong 2015 of its own.