HANOI : Chinese solar panel maker Trina Solar is planning to build its third factory in Vietnam, three people familiar with the matter told Reuters, a move that would boost exports to the United States following punitive duties to be imposed on products it makes in Thailand.
Trina, one of the world’s biggest solar panel makers by sales, would invest $400 million in the plant that would span 25 hectares of industrial land. Production is set to begin in 2025, one of the sources with direct knowledge of the plan said.
Another person who was involved in discussions with the company said Trina had flagged $600 million in possible investment in Vietnam.The sources declined to be named because the project details remained confidential. Trina did not reply to requests for comment.
Trina’s Vietnam investment follows an investigation by the U.S. Department of Commerce which concluded last month that Trina was among five Chinese solar firms who used their plants in Thailand and other Southeast Asian countries to dodge punitive tariffs on Chinese-made panels, which the U.S. says benefit from unfair state subsidies.
The top producing countries in the region account for about 80 per cent of U.S. panel supplies, with Vietnam providing about one third of all U.S. imports of solar panels in the first quarter of this year, according to S&P Global Market Intelligence. Source: Reuters
