(Yicai Global) Sept. 21 -- Trina Solar will invest up to CNY3 billion (USD443.7 million) in a 15 giga-watt high-power solar module production project in eastern China, the company said in a statement yesterday.

Trina Solar will upgrade the production line of its existing plant in its home base of Changzhou, Jiangsu province. Investment in new equipment will go as high as CNY1.5 billion. The completed facility will produce high-power solar modules with a power generation capacity of higher than 500 watts. The expanded plant is set to be finished and go into production next year, the company said.

Trina Solar released a new high-power solar module product with 600W power generation per monolithic module in July.

This is part of the photovoltaic giant's plan to add 55GW of solar module production capacity next year. Trina Solar plans to greatly increase its solar cell production capacity from the current 12GW to about 26GW before the end of next year, 70 percent of which will produce large high-efficiency cells, it said in August.

The demand for photovoltaic power generation has spiked and so upstream photovoltaic equipment companies of the likes of Trina Solar, Tianjin Zhonghuan Semiconductor and Longi Green Energy Technology are all actively expanding their output.

Trina Solar is a leader among Chinese photovoltaic module makers. It listed on Shanghai’s Nasdaq-style Sci-Tech Innovation Board in June. The firm was to invest EUR42.73 million to buy the remaining 49 percent of shares in its Nclave Renewable unit, a Spanish photovoltaic tracking support technology and product developer and supplier, the parent said on Sept. 8.

Nclave is a well-known tracker company in Spain. Its revenue and profit have racked up major growth after Trina Solar bought 51 percent of it in 2018.

Trina Solar shares [SHA:688599] closed up 0.37 percent at CNY16.41 (USD2.40) at the lunch bell.

Editor: Ben Armour