Trina Solar says secured most silicon needs for 08

LOS ANGELES, Jan 29 (Reuters) - Solar energy company Trina Solar Ltd (TSL.N) said on Tuesday it has secured more than 80 percent of its silicon requirements for 2008 and 60 percent of its needs for 2009.

Silicon is the key raw material that goes into solar cells and panels. Solar cell and module producers have been grappling with tight supplies of the material, leading to soaring prices. Silicon supplies are expected to become more ample next year as new production capacity comes online.

Trina said it sources up to 80 percent of its silicon requirements from reclaimed silicon sources, saving it between 30 percent and 50 percent when compared with spot market prices.

Also on Tuesday, Trina said it had already sold 85 percent of its targeted module production for 2008. The company expects to produce between 200 and 210 megawatts of solar modules this year.

Shares of China-based Trina were up $1.28, or 3.5 percent, at $38.01 in midday trading on the New York Stock Exchange. (Reporting by Nichola Groom; Editing by Brian Moss and Phil Berlowitz)