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Trina Solar secures US$100-mln loan from Standard Chartered

Feb. 17, 2012 (China Knowledge) - Trina Solar Ltd<TSL>, a leading Chinese photovoltaic product maker based in Changzhou, Jiangsu Province, said a wholly-owned subsidiary, Trina Solar (Changzhou) Science & Technology Co Ltd, has acquired a three-year loan worth US$100 million from Standard Chartered Bank.

The structured term loan would be drawn down in single or multiple tranches within the first 12 months, said U.S.-listed Trina Solar, adding that the maturity may be extended for up to another two years.

Funds provided by Standard Chartered Bank will be used to develop Trina Solar's East Campus project, which is designed to have a cell and module output capacity of 500 megawatts per year featured with the firm's high-efficiency Honey cell technology.

The bank has offered loans to new energy suppliers for low-carbon economy in China, said Eric Lian, managing director and head of Wholesale Banking Origination & Client Coverage, Co-Head of Wholesale Banking, Standard Chartered Bank (China) Ltd, sources reported.

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