- Trina Solar to issue an $809m bond.
- The funds raised will finance new production capacity in China.
- The price of polysilicon has increased after a five-week decline
Solar module manufacturer Trina Solar plans to issue convertible bonds of up to RMB5.25 billion ($809.8 million). The company intends to use the proceeds from the bond to expand its solar PV cell and module production capacity. The funds will finance a new 16GW PV cell factory in Yancheng city, two solar cell factories with a combined capacity of 18GW in Suqian city, and a 10GW PV panel manufacturing facility in Yancheng.
These moves are coming as the latest reports from China indicates that polysilicon and wafer prices appear to be rising. China Nonferrous Metals Association (CNMA) and wafer producer Zhonghuan Semiconductor released data that showed an upward trend in polysilicon prices after five previous weeks of continuous decline. The CNMA data shows that polysilicon is currently sold at CNY 205 (US$31.6) per kg. a 0.54 per cent increase compared to last week.