- Trina Solar, one of the world’s biggest solar panel makers by sales, would invest $400 million in a new plant in Vietnam.
- China and Hong Kong combined were the most prominent foreign investors in Vietnam in the first ten months of this year.
The provincial government has said that Chinese solar panel maker, Trina Solar, plans to invest an additional $420 million in Vietnam’s northern province of Thai Nguyen. The total investment in the country is rising to nearly $900 million. Also, the firm, one of the world’s biggest solar panel makers by sales, would invest $400 million in a new plant in Vietnam.
In a statement released after a meeting between Trina’s chairperson, Gao Jifan and Deputy Prime Minister Tran Luu Quang, Goa said he expected to get support from the authorities to research and invest in rooftop solar power projects locally. Trina, founded in 1997, is one of the biggest solar panel makers in Vietnam. It operates two plants in Thai Nguyen, about 82 km from Hanoi’s capital. The statement did not say whether the investment would include a third Trina Vietnam facility or whether it could be used for other projects, such as expanding existing plants.
Trina’s Vietnam investment follows an investigation by the U.S. Department of Commerce that concluded in August. Trina was among five Chinese solar firms that used plants in Thailand and other Southeast Asian countries to dodge punitive tariffs on Chinese-made panels. According to Vietnamese government data, China and Hong Kong combined were the most prominent foreign investors in Vietnam in the first ten months of this year.