On September 30, 2019, Trina Solar Japan Energy Co., Ltd (TSJE), a wholly-owned subsidiary of Trina Solar Co., Ltd with headquarters in Tokyo, Japan announced that it had signed a Commitment Line Agreement in the amount of JPY 1 billion with The Toho Bank Ltd. with commitment period of two and a half years.
Established in March 2015, TSJE engages in solar PV projects development, EPC, O&M, etc. in the Japanese market. Signing the Commitment Line Agreement with The Toho Bank poses a strong signal that the company is enabled to obtain funds required for late stage development and construction of its projects, as well as with the prospects of future business expansion.
Carlos Garcia, Representative Director and President of TSJE comments that, through this fund-raising transaction first ever in Japan, the company has laid down solid foundation that will facilitate its flexible operation and pursuit of long-term project development. “We are currently engaged in multiple projects located in eastern Japan including Fukushima Prefecture. As such, cooperation with The Toho Bank, Ltd. will enable us to enjoy smooth business operation and enhance our competitive advantage.”
Trina Solar is not only the world’s top-tier solar module manufacturer, at the meantime, after many years of exploring and cultivating in the downstream market, Trina Solar has also become one of the leading downstream project developer and class asset provider across the globe. Up to now, Trina Solar has connected over 3 GW of solar power plants to the grid worldwide. As of the end of September 2019, TSJE has connected 45 solar projects with the aggregate total capacity of approximately 100 MWdc in Japan, and currently has around 200 MW projects under construction also in Japan.