Trina Solar gains €150 million financial boost for utility projects

Trina Solar (Luxembourg) Holdings S.A.R.L., a subsidiary of China-based Trina Solar Co., Ltd., has secured a €150 million revolving credit facility from Spain-based Banco Santander. This funding aims to bolster the development of Trina Solar’s downstream division, the Trinasolar International System Business Unit (ISBU), which specializes in utility-scale solar and storage projects. According to the company, the facility is allocated in two tranches: a “non-recourse” tranche for construction assets and a “guaranteed” tranche for development and acquisitions. The financing will support projects in Italy, Spain, the UK, France, and Germany. As per the company, this credit facility is crucial for ISBU’s strategic shift from a project developer to an Independent Power Producer (IPP). The move aligns with Santander’s broader goal of facilitating €220 billion in green financing by 2030.