BEIJING (dpa-AFX) - Trina Solar Limited (TSL) announced that it has reached an agreement with Shenzhen S.C. New Energy Technology Corporation, a solar equipment manufacturer, to acquire a majority stake in Shenzhen S.C.'s wholly-owned subsidiary, Hubei Hongyuan PV Science and Technology Co. Ltd., a specialized PV cell producer located in Xiantao, Hubei Province.
Trina Solar will hold a 51% stake in Hubei Hongyuan with the remaining 49% stake held by Shenzhen S.C.
The new joint venture company will expand Hubei Hongyuan's existing production facilities and solid infrastructure to achieve an expected capacity of 420 MW by the middle of 2014.
Following the transaction, Hubei Hongyuan will change its name to Hubei Trina Solar Co., Ltd.
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