Trina Solar ranks 'AAA' in latest PV Tech Bankability Report

CHANGZHOU, China, June 6, 2022 /PRNewswire/ -- Trina Solar, the leading global PV and smart energy total solution provider, has been ranked 'AAA', the highest category, in the latest PV ModuleTech Bankability report published by PV-Tech.

Based on a proprietary analytical model to establish bankability scores and ratings, the report combines both the manufacturing and financial health of companies, the latest issue covering more than 50 PV module suppliers.

Trina Solar ranked second for global module shipments in 2021, with a figure of 24.8GW, and has retained that position in the first quarter of 2022, shipping 8GW. Industry reports indicate that global shipments of 210 modules rose sharply in 2021 to reach 26GW, Trina contributing 16GW, with cumulative 210 shipments exceeding 35GW as of the end of March 2022.

Technology indicators are also analyzed in the PV Tech report. Trina continues to innovate in this area, being an early mover in n-type technology and setting its 23rd world record in March, with its 210×210mm TOPCon cell achieving a maximum efficiency of 25.5%. The company has also set a high benchmark for efficiency of its PERC and HJT cells.

Trina's high value Vertex modules, from the Vertex S 410W to the 600W+ ultra-high-power version, cover both residential and large ground mounted power plant applications and have displayed a combination of excellent reliability, high energy yield and low LCOE. Due to its longstanding commitment to product quality, Trina has also recently been recognized as a "Top Performer" by PVEL for the eighth consecutive year.

According to the company's 2021 financial report, it achieved revenue of $6.895 billion, a year-on-year increase of 51.2%, with total assets of $9.966 billion, a year-on-year increase of 39.36%.

Helena Li, President of Trina's Cell and Module business, commented: "Trina Solar has been a leading global PV module supplier for many years. Based on our consistent financial performance, technology innovation and product value, we are proud to be ranked in the AAA category in PV Tech's bankability ratings. Trina Solar will continue to progress and create higher customer value globally."