Greentech Lead Asia: Trina Solar has reported $260.2 million in net revenues for the first quarter of 2013, a decrease of 14.0 percent from the fourth quarter of 2012.
Solar module shipments were approximately 393 MW during the first quarter of 2013, representing a sequential decrease of 5.3 percent from the fourth quarter of 2012
Gross profit was $4.4 million, a decrease of 21.5 percent from the fourth quarter of 2012
While the average selling price (“ASP”) of modules continued to decline in the first quarter due to the lingering supply-demand imbalance in the global PV industry, the rate of decline has slowed from previous quarters, said Jifan Gao, chairman and CEO of Trina Solar.
The company completed several restructuring and streamlining initiatives in the second half of 2012 and saw sustained improvements in our general and administrative expenses in the first quarter of 2013. In terms of revenues, the company achieved strong sequential shipment growth in Japan and India, two of the most important emerging markets for the PV industry.
Earlier this year Trina Solar obtained approval from the Gansu Provincial Development and Reform Commission to develop a 50 MW grid-connected solar power plant in Wuwei, Gansu Province.
The company also announced that it will supply 30 MW of photovoltaic modules to Gestamp Solar, one of the world’s leading companies in the development and management of photovoltaic parks, for two projects in South Africa.
During this quarter, Trina Solar also announced a new slimline frame design across its full range of 72-cell monocrystalline and 60-cell polycrystalline modules. Frame thickness has been reduced from 40mm to 35mm, and products are immediately available.