Trina Solar Declares 2021 Financial Results

Trina Solar Shipped 24.8 GW Solar Modules In 2021, Comprising Over 16 GW Of 210 Panels

Trina Solar Declares 2021 Financial Results

Trina Solar expanded its annual solar cell production capacity to 35 GW by the end of 2021, and module capacity to 50 GW. By the end of 2022, the numbers are guided to expand to a total of 50 GW and 65 GW, respectively.

  • Trina Solar’s 2021 Annual Report shows the company shipped 24.8 GW of solar modules last year
  • A majority of this share came from more than 16 GW of 210 modules, as the company exceeded 100 GW of cumulative shipments it announced recently
  • Its module production capacity till the end of 2021 reached 50 GW as targeted and is now planned to go up to 65 GW by the end of 2022
  • This year, it targets to ship a total of 43 GW of solar modules globally, including those for self-use

China headquartered global solar PV cells and module maker Trina Solar counts its total solar module shipments in 2021 to have added up to 24.8 GW, led mainly by 210 sized panels that made up over 16 GW of the total number, as per its annual report.

Out of 24.8 GW, Trina had shipped more than 10.5 GW within H1/2021 as it shared previously which means somewhere around 14.3 GW were sold in the 2nd half of last year (see Trina Solar Shipped 10.5+GW Modules In H1/2021). It compares to 15.91 GW it shipped in 2020 (see Trina Solar Shipped 15.91 GW Modules In 2020).

Trina recently announced having exceeded 100 GW of cumulative shipments since its inception in 1997.

As for its financials, Trina says its operating income for the year went up by 51.20% YoY to RMB 44.48 billion, and net profit was reported as having gone up 46.77% to RMB 1.804 billion.

Management said it was able to lock in profits by stocking silicon to ensure stability of its supply chain in 2021 which led it to reduce costs.

At the end of 2021, Trina’s solar cell production capacity had reached up to 35 GW and module capacity 50 GW as targeted. By the end of 2022, it now targets to expand solar cell capacity to 50 GW and module capacity to 65 GW. In 2022, it plans to ship 43 GW modules, including those for self-use. Management said it is actively exploring the layout of TOPCon production capacity.

Recently, Trina said it expects to report Q1/2022 net profits as between RMB 500 million to RMB 600 million, reflecting an annual increase of 117% to 161% (see China PV News Snippets).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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