HONOI: According to the municipal government of Vietnam’s northeastern province of Thai Nguyen, Chinese solar panel manufacturer Trina Solar plans to invest an extra US$ 420 million in the nation, bringing its complete investment to almost US$ 900 million.
Trina, one of the largest solar panel producers in the world by sales, announced in September that it would spend$ 400 million on a new plant in Vietnam.
Gao Jifan, the chairman of Trina, and Deputy Prime Minister Tran Luu Quang met in person. In a speech made public following their meeting, Gio said he anticipated receiving funding from the local government to conduct research and fund local rooftop solar energy projects.
One of the largest solar panels producers in Vietnam, Trina was established in 1997. It runs two plants in Thai Nguyen, which is about 82 kilometers from Hanoi’s investment.
The investment’s inclusion of a second Trina Vietnam service or whether it could be used for other tasks like expanding existing vegetation were no specified in the statement.
Following a US Department of Commerce investigation that came to the conclusion in August that Trina was one of five Chinese renewable companies that used vegetation in Thailand and other Southeast Asian nations to avoid paying hefty tariffs on Chinese-made panels, the company invested in Vietnam.
According to statistics from the Asian state, China and Hong Kong together accounted for the majority of foreign traders in Vietnam during the first ten months of this year.