Trina OK'd to Develop 50 MW Chinese Solar Project
On Monday, Trina Solarconfirmed that it has received approval from China's Gansu Provincial Development and Reform Commission to build a 50 megawatt, grid-connected solar power plant in Wuwei, Gansu. The project is described as being at least in part designed to "support economic stimulus" in the region, but also a favorable location because of the area's generally sunny conditions.
Neither the cost of the construction nor Trina's methods of paying for it were disclosed. In 2011, the most recent year for which full-year financials are available, Trina spent $360.9 million on capital projects while generating only $21.9 million in operating cash flow.
Shares of the company closed down 0.7% on the news, at $5.58.
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