The world’s largest PV maker has also signed $143 million in financing agreements for the factory in Rayong, Thailand.
Trina Solar reports that it has begun production at its PV cell and module factory in Rayong Thailand, which has the capacity to produce 700 MW of cells and 500 MW of PV modules annually.
The company is using its “Honey” assembly line method at the factory. So far the factory has been producing modules for the domestic market, but Trina expects to begin supplying overseas markets by the end of March. Trina says the facility could be further ramped to 600 MW of module capacity, but that this will depend upon “overseas market demand”.
Simultaneously Trina reports that it has signed a US$100 million loan agreement with Siam Commercial Bank and China Minsheng Bank to finance the capital expenditure of the new facility, which matures in 2020. Last May Trina estimated that the factory building and tools would cost $160 million.
Trina has also been granted a $43 million line of credit, which it will use for working capital.
Southeast Asia has become a major destination for Chinese and Taiwanese PV cell and module makers seeking to avoid U.S. and EU import duties on their products. Trina is one of the first Chinese companies to complete a new factory in the region.