Trina Solar has signed a five-year strategic cooperation agreement with CITIC Financial Leasing and a separate three-year strategic cooperation agreement with the Changzhou branch of CITIC Bank.
Under the terms of the agreements, Trina Solar will receive financial products and services including credit facilities of RMB5bn from CITIC Financial Leasing to support equipment upgrades, and downstream projects.
In addition, a credit line of RMB5bn has been made available by CITIC Changzhou for trade financing including short-, medium- and long-term loans. Access to foreign currency loans will also be available.
Trina Solar chief financial officer Teresa Tan said: “We are pleased to build a long-term strategic partnership with CITIC based on our existing cooperative relationship to fuel our global growth and optimize our capital structure.
“We believe these arrangements demonstrate CITIC’s continued strong confidence in our current business model and future prospects.
“The two cooperation agreements not only allow us access to CITIC’s diverse financing resources and experienced professional services, but also enable CITIC to access Trina’s established industry network and participate in our strong growth.
Image: Trina Solar
