CHANGZHOU, CHINA: .Trina Solar Ltd has entered into a share purchase agreement and acquired a 90 percent stake in Yunnan Metallurgical New Energy Co. Ltd from Yunnan Metallurgical Group Co., Ltd., Kunming Yeyan New Material Co. Ltd, and Kunming Engineering & Research Institute of Nonferrous Metallurgy Co. Ltd.
The remaining 10 percent will be collectively held by the three Parties. Trina Solar obtained the stake by participating in a bidding process conducted through the Yunnan Public Resource Trading Center's online bidding platform after Yunnan Metallurgical New Energy posted an invitation to bid for the majority stake via the Yunnan Equity Exchange.
Yunnan Metallurgical New Energy is committed to developing downstream solar power projects and currently has a 300 MW project under development in southern Yunnan province. Upon operation, it will become the largest single utility scale solar power plant in Yunnan and one of the largest in China. Construction of the 300 MW project is expected to begin in the third quarter of 2014. By combining the resources of strategic partners, Yunnan Metallurgical New Energy will also actively seek new project opportunities to expand its downstream pipeline.