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Chinese solar panel manufacturer Trina Solar plans to invest an additional US$420 million in Vietnam’s Thai Nguyen province, raising its total investment in Vietnam to nearly US$900 million. Although the statement did not disclose in detail whether the investment includes expansion of existing factories or other projects, it will further enhance Vietnam’s attractiveness in the solar field.
Founded in 1997, Trina Solar is one of Vietnam’s largest solar panel manufacturers and currently operates two factories in Taiyuan City. Trina Solar had previously planned to build a new factory in Vietnam with an investment of US$400 million. The plan, which is supported by the Vietnamese government, also includes research and investment in local rooftop solar projects.
According to Vietnamese government data, China and Hong Kong were the largest foreign investors in Vietnam in the first 10 months of this year.
(Source: Reuters Image source: freepik)
