* To ship 23 MW in 2010
* Shares up 1 pct premarket
March 12 China-based Trina Solar Ltd TSL.N
said its unit has agreed to increase yearly shipments to
ENERQOS SPA, an Italian photovoltaic system and solar power
plant construction company.
The company said its unit, Changzhou Trina Solar Energy Co
Ltd, would increase its 2010 committed quantity to 23 megawatts
(MW) of photovoltaic modules from 2 MW in 2009.
Italy, Europe's third-largest solar market, is expected to
double its installed PV capacity to about 2,000 MW in 2010,
before the government cuts the incentives to bring them in line
with falling PV system prices. [ID:nLDE61H1HU]
Investors ranging from banks and funds to families and
sports car maker Ferrari have piled into Italy's solar market,
lured by a generous incentive scheme launched in 2007 and due
to expire this year.
On Thursday, SunEdison, a unit of silicon maker MEMC
Electronic Materials Inc WFR.N, said it would invest 200 to
250 million euros to build Europe's biggest solar plant in
Italy, aiming to expand in the booming solar market.
Trina said shipments include 13 MW of PV modules for the
first half of 2010, and 10 MW for the second half of the year,
with agreed prices for the first and second quarters.
Shares of the company were up about a percent at $24.12 in
premarket trade Friday. The stock, which has risen seven-fold
from a March 2009 year-low, closed at $23.84 Thursday on the
New York Stock Exchange.
(Reporting by Adveith Nair in Bangalore; Editing by Ratul Ray