Friday, September 19, 2008

Trina Solar sees 2009 sales doubling (TSL)

This is probably a lowball estimate.
From Reuters:
Chinese solar product maker Trina Solar Ltd expects its revenue to double in 2009, reaching $1.7 billion to $1.8 billion as it ramps up capacity to meet strong demand for clean energy, its chief executive said on Thursday.

Solar module shipments next year will surge to 450 megawatts (MW) from this year's 210 MW to 220 MW, as the firm plans to double its capacity to 700 MW by the end of 2009 and boost it further to 1,000 MW in 2010, Gao Jifan said in an interview from the firm's headquarters in Changzhou, near Shanghai.

To fuel the expansion, Trina Solar's capital expenditure is expected to rise to $250 million in 2009 from $200 million this year and reach $350 million in 2010, with funding coming mostly from internal resources, he said.

"Our cash flow is enough to fund our expansion until 2009. I believe our operating cash flow will increase further in 2010, enough to supply our expansion needs," said Gao, who is also the firm's chairman....MORE