Latest news with #TrinaSolar
Cision Canada
2 days ago
- Business
- Cision Canada
Trina Storage Powers Latin America's Energy Transition as Flagship GWh-Scale Project Ships to Chile
SHANGHAI, Aug. 11, 2025 /CNW/ -- Trina Storage has shipped the first 1.2GWh batch of its self-developed Elementa 2 BESS to Chile, marking its largest overseas standalone energy storage project and ushering in a new era of GWh-scale international deployments. This milestone validates the technical adaptability in extreme environments and delivering scenario-specific solutions to complex global operating conditions. Located in Chile's northern Atacama Desert, one of the world's driest and most challenging regions, the project demanded exceptional engineering resilience. Specifically engineered for such demanding conditions, Trina Storage's Elementa 2 Desert Solution ensures stable operation. This not only significantly lowers equipment failure rates and O&M costs but also empowers the system to rapidly respond to grid fluctuations and balance power supply and demand. "This successful deployment of a GWh-scale project showcases Trina Storage's full lifecycle solution capabilities," emphasized Álvaro García-Maltrás, President of Trina Solar for Latin America and the Caribbean. "We combine world-class engineering with deep local market knowledge to guarantee successful deployment and long-term operational excellence." Given the project's massive scale and complex logistics, Trina Storage leveraged its extensive global project experience and professional service network. Through its vertically integrated supply chain, intelligent manufacturing, and stringent quality control processes, the company ensured full-process controllability during the large-scale delivery phase. In the meantime, Trina Storage rolled out its localized service strategy to ensure the smooth execution and long-term operation of the project. This included establishing a local service team familiar with Chilean regulations and market demands; integrating supply chain resources across the Latin American region to shorten logistics cycles and collaboration costs; and building a full-cycle after-sales service system covering commissioning, operation, and maintenance, forming an end-to-end service chain. This project lands in a rapidly growing market. According to Chile's Ministry of Energy, operational energy storage capacity reached 3,660 MWh by Q1 2025, solidifying the country's leadership position in Latin America. The successful shipment of this GWh-scale project not only sets a benchmark for Trina Storage in the region but also provides robust support for the clean energy transition in Chile and neighboring countries through its reliable energy storage solutions. With more than 10GWh energy storage system shipments covering over 100 countries across the globe, Trina Storage will continue to drive the green transformation of global energy structures with continued innovation, high-quality products, intelligent manufacturing, and global service network.
Gulf Insider
7 days ago
- Business
- Gulf Insider
China's Solar Industry Quietly Fired A Third Of Its Workers
China's biggest solar firms fired nearly one-third of their workforces last year, a Reuters analysis of company filings shows, as one of the industries hand-picked by Beijing to drive economic growth grapples with falling prices and steep losses. Longi Green Energy, Trina Solar, Jinko Solar, JA Solar, and Tongwei collectively shed some 87,000 staff, or 31% of their workforces on average last year, according to a Reuters review of employment figures in public filings. The job cuts illustrate the pain from the vicious price wars being fought across Chinese industries, including solar and electric vehicles, as China grapples with massive overcapacity and dismal demand (which has prompted China to dump its exports into any country that will accept them). As a frame of reference, the world produces twice as many solar panels each year as it uses, with most of them manufactured in China. Analysts say the previously unreported job losses are likely a mix of layoffs and attrition due to cuts to pay and hours as companies sought to stem losses. More importantly, nobody is allowed to mention them: layoffs are politically sensitive in China, where Beijing views employment as key to social stability. Remarkably, other than a 5% cut acknowledged by Longi last year, none of the firms mentioned above have announced any job cuts or responded to questions from Reuters. Meanwhile, amid tens of millions of wholesale layoffs which are not logged in any official statistics, China continues to pretend that its unemployment rate is 5%, and hasn't budged in 5 years. Click here to read more…
Japan Times
04-08-2025
- Business
- Japan Times
China's solar giants quietly shed a third of their workforces last year
China's biggest solar firms shed nearly one-third of their workforces last year, company filings show, as one of the industries hand-picked by Beijing to drive economic growth grapples with falling prices and steep losses. The job cuts illustrate the pain from the vicious price wars being fought across Chinese industries, including solar and electric vehicles, as they grapple with overcapacity and tepid demand. The world produces twice as many solar panels each year as it uses, with most of them manufactured in China. Longi Green Energy, Trina Solar, Jinko Solar, JA Solar, and Tongwei, collectively shed some 87,000 staff, or 31% of their workforces on average last year, according to a review of employment figures in public filings. Analysts say the previously unreported job losses were likely a mix of layoffs and attrition due to cuts to pay and hours as companies sought to stem losses. Layoffs are politically sensitive in China, where Beijing views employment as key to social stability. Other than a 5% cut acknowledged by Longi last year, none of the firms mentioned above have announced any job cuts or responded to questions sent to them. "The industry has been facing a downturn since the end of 2023," said Cheng Wang, an analyst at Morningstar. "In 2024, it actually got worse. In 2025, it looks like it's getting even worse." Since 2024, more than 40 solar firms have delisted, gone bankrupt or been acquired, according to a presentation by the photovoltaic industry association in July. China's solar manufacturers built new factories at a fever pitch between 2020 and 2023 as the state redirected resources from the sinking property sector to what it used to call the "new three" growth industries: solar panels, electric cars and batteries. That building spree led to falling prices and a brutal price war made worse by U.S. tariffs thrown up against exports from the many Chinese-owned factories in Southeast Asia. The industry lost $60 billion last year. While analysts say it is unclear whether job cuts continued this year, Beijing is increasingly signalling it intends to intervene to cut capacity, sending polysilicon prices soaring nearly 70% in July while solar panel prices have increased more modestly. Major polysilicon producer GCL said on Thursday that top producers plan to set up an OPEC-like entity to control prices and supply. The group is also setting up a 50 billion-yuan ($6.9 billion) vehicle to buy and shut around a third of the industry's lower-quality production capacity. Chinese President Xi Jinping in early July called for an end to "disorderly price competition," and three days later the industry ministry pledged to calm price wars and retire outdated production capacity during a meeting with solar industry executives. While Beijing has not said when or how it will act, a source with direct knowledge of the matter said it was determined to focus on the issue before the end of the current five-year plan this year. Officials in eastern China's Anhui province, a manufacturing hub, told solar company executives in June to stop adding new manufacturing and shut production lines operating at under 30% capacity, according to two industry sources who declined to be identified due to the sensitivity of the matter. A board member at a solar firm in the province said new capacity had already required verbal approval from China's powerful state planner, the National Development and Reform Commission (NDRC), this year. They asked for their company's name to be withheld because the discussions were private. No easy fix But many provincial governments are likely to be reluctant to crack down hard on overcapacity, analysts say. These officials are scored on jobs and economic growth and are loath to see local champions sacrificed to meet someone else's target. Trina Solar's chairman told an industry conference in June that new projects had begun this year despite the NDRC calling for a halt in February. The foot-dragging reflects the scale of the cull required. Jefferies analyst Alan Lau estimated at least 20%-30% of manufacturing capacity would have to be eliminated for companies to return to profitability. "There's a lot of overcapacity in China, like steel, like cement, but you don't see any industry in the past having industry-wide cash loss for one and a half years already," Lau said. Company-level losses are on the same scale as in real estate, another crisis-hit sector, even though solar is only about one-tenth the size, he said. "This is highly unusual and highly abnormal."
New Straits Times
04-08-2025
- Business
- New Straits Times
China's solar giants quietly shed a third of their workforces last year
BEIJING: China's biggest solar firms shed nearly one-third of their workforces last year, company filings show, as one of the industries hand-picked by Beijing to drive economic growth grapples with falling prices and steep losses. The job cuts illustrate the pain from the vicious price wars being fought across Chinese industries, including solar and electric vehicles, as they grapple with overcapacity and tepid demand. The world produces twice as many solar panels each year as it uses, with most of them manufactured in China. Longi Green Energy, Trina Solar, Jinko Solar, JA Solar, and Tongwei , collectively shed some 87,000 staff, or 31 per cent of their workforces on average last year, according to a Reuters review of employment figures in public filings. Analysts say the previously unreported job losses were likely a mix of layoffs and attrition due to cuts to pay and hours as companies sought to stem losses. Layoffs are politically sensitive in China, where Beijing views employment as key to social stability. Other than a 5 per cent cut acknowledged by Longi last year, none of the firms mentioned above have announced any job cuts or responded to questions from Reuters. "The industry has been facing a downturn since the end of 2023," said Cheng Wang, an analyst at Morningstar. "In 2024, it actually got worse. In 2025, it looks like it's getting even worse." Since 2024, more than 40 solar firms have delisted, gone bankrupt or been acquired, according to a presentation by the photovoltaic industry association in July. China's solar manufacturers built new factories at a fever pitch between 2020 and 2023 as the state redirected resources from the sinking property sector to what it used to call the "new three" growth industries: solar panels, electric cars and batteries. That building spree led to falling prices and a brutal price war made worse by U.S. tariffs thrown up against exports from the many Chinese-owned factories in Southeast Asia. The industry lost US$60 billion last year. While analysts say it is unclear whether job cuts continued this year, Beijing is increasingly signalling it intends to intervene to cut capacity, sending polysilicon prices soaring nearly 70 per cent in July while solar panel prices have increased more modestly. Major polysilicon producer GCL told Reuters on Thursday that top producers plan to set up an OPEC-like entity to control prices and supply. The group is also setting up a 50-billion yuan vehicle to buy and shut around a third of the industry's lower-quality production capacity. President Xi Jinping in early July called for an end to "disorderly price competition," and three days later the industry ministry pledged to calm price wars and retire outdated production capacity during a meeting with solar industry executives. While Beijing has not said when or how it will act, a source with direct knowledge of the matter said it was determined to focus on the issue before the end of the current five-year plan this year. Officials in eastern China's Anhui province, a manufacturing hub, told solar company executives in June to stop adding new manufacturing and shut production lines operating at under 30 per cent capacity, according to two industry sources who declined to be identified due to the sensitivity of the matter. A board member at a solar firm in the province said new capacity had already required verbal approval from powerful state planner the National Development and Reform Commission (NDRC) this year. They asked for their company's name to be withheld because the discussions were private. NO EASY FIX But many provincial governments are likely to be reluctant to crack down hard on overcapacity, analysts say. These officials are scored on jobs and economic growth and are loathe to see local champions sacrificed to meet someone else's target. Trina Solar's chairman told an industry conference in June that new projects had begun this year despite the NDRC calling for a halt in February. The foot-dragging reflects the scale of the cull required. Jefferies analyst Alan Lau estimated at least 20-30 per cent of manufacturing capacity would have to be eliminated for companies to return to profitability. "There's a lot of overcapacity in China, like steel, like cement, but you don't see any industry in the past having industry-wide cash loss for one and a half years already," Lau said. Company-level losses are on the same scale as in real estate, another crisis-hit sector, even though solar is only about one-tenth the size, he said. "This is highly unusual and highly abnormal."
Yahoo
01-08-2025
- Business
- Yahoo
China's solar giants quietly shed a third of their workforces last year
By Colleen Howe BEIJING, August 1 (Reuters) -China's biggest solar firms shed nearly one-third of their workforces last year, company filings show, as one of the industries hand-picked by Beijing to drive economic growth grapples with falling prices and steep losses. The job cuts illustrate the pain from the vicious price wars being fought across Chinese industries, including solar and electric vehicles, as they grapple with overcapacity and tepid demand. The world produces twice as many solar panels each year as it uses, with most of them manufactured in China. Longi Green Energy, Trina Solar, Jinko Solar, JA Solar, and Tongwei, collectively shed some 87,000 staff, or 31% of their workforces on average last year, according to a Reuters review of employment figures in public filings. Analysts say the previously unreported job losses were likely a mix of layoffs and attrition due to cuts to pay and hours as companies sought to stem losses. Layoffs are politically sensitive in China, where Beijing views employment as key to social stability. Other than a 5% cut acknowledged by Longi last year, none of the firms mentioned above have announced any job cuts or responded to questions from Reuters. "The industry has been facing a downturn since the end of 2023," said Cheng Wang, an analyst at Morningstar. "In 2024, it actually got worse. In 2025, it looks like it's getting even worse." Since 2024, more than 40 solar firms have delisted, gone bankrupt or been acquired, according to a presentation by the photovoltaic industry association in July. China's solar manufacturers built new factories at a fever pitch between 2020 and 2023 as the state redirected resources from the sinking property sector to what it used to call the "new three" growth industries: solar panels, electric cars and batteries. That building spree led to falling prices and a brutal price war made worse by U.S. tariffs thrown up against exports from the many Chinese-owned factories in Southeast Asia. The industry lost $60 billion last year. MORE TO COME While analysts say it is unclear whether job cuts continued this year, Beijing is increasingly signalling it intends to intervene to cut capacity, sending polysilicon prices soaring nearly 70% in July while solar panel prices have increased more modestly. Major polysilicon producer GCL told Reuters on Thursday that top producers plan to set up an OPEC-like entity to control prices and supply. The group is also setting up a 50-billion yuan vehicle to buy and shut around a third of the industry's lower-quality production capacity. President Xi Jinping in early July called for an end to "disorderly price competition," and three days later the industry ministry pledged to calm price wars and retire outdated production capacity during a meeting with solar industry executives. While Beijing has not said when or how it will act, a source with direct knowledge of the matter said it was determined to focus on the issue before the end of the current five-year plan this year. Officials in eastern China's Anhui province, a manufacturing hub, told solar company executives in June to stop adding new manufacturing and shut production lines operating at under 30% capacity, according to two industry sources who declined to be identified due to the sensitivity of the matter. A board member at a solar firm in the province said new capacity had already required verbal approval from powerful state planner the National Development and Reform Commission (NDRC) this year. They asked for their company's name to be withheld because the discussions were private. NO EASY FIX But many provincial governments are likely to be reluctant to crack down hard on overcapacity, analysts say. These officials are scored on jobs and economic growth and are loathe to see local champions sacrificed to meet someone else's target. Trina Solar's chairman told an industry conference in June that new projects had begun this year despite the NDRC calling for a halt in February. The foot-dragging reflects the scale of the cull required. Jefferies analyst Alan Lau estimated at least 20-30% of manufacturing capacity would have to be eliminated for companies to return to profitability. "There's a lot of overcapacity in China, like steel, like cement, but you don't see any industry in the past having industry-wide cash loss for one and a half years already," Lau said. Company-level losses are on the same scale as in real estate, another crisis-hit sector, even though solar is only about one-tenth the size, he said. "This is highly unusual and highly abnormal." Sign in to access your portfolio
