Tuesday, July 29, 2008

Trina, Suntech in supply deals with Italy's Enel (STP; TSL; ENEI.MI)

Trina had jumped ahead of the herd's movements, Germany, Spain, Italy, Greece by establishing a strong presence in Italy where they have a 26% market share. By being early they were able to make the connections and develop the relationships. Enel is a big dog*.
From Reuters:
Chinese solar companies Trina Solar Ltd (TSL.N: Quote) and Suntech Power Holdings Co Ltd (STP.N: Quote) have signed separate supply agreements with a unit of Italy's biggest power company, Enel SpA (ENEI.MI: Quote, Profile, Research, Stock Buzz), the companies said on Tuesday.

Suntech said it would supply Enel.si with 30 megawatts of photovoltaic solar modules later this year and in 2009.

Trina said it would supply the company with 17 MW of modules starting this year.

Enel is a world leader in generating electricity from renewable sources. It plans to spend 7.4 billion euros on such investments by the end of 2012.

*From ENEL's homepage:
Enel is Italy's largest power company and Europe’s second listed utility by installed capacity. It produces and sells electricity and gas across Europe, North and Latin America. Further to the acquisition of the Spanish utility Endesa, together with partner Acciona, Enel has now a presence in 21 countries with 75,500 MW of generating capacity (on 31st December 2007) and serves more than 50 million power and gas customers....

"Trina Solar Renews Contract in Italy, A Key Solar Market Now That Spain Is Sputtering (TSL)"

"SunPower: Italy Next Big European Solar Market, Trina Solar Contract Encouraging (SPWR; TSL)"

Trina Solar in Three-year $158 Million Pact (TSL)