* 1st-quarter revenue up 71 pct at $444.8 mln
* Forecasts 2nd-quarter shipments of 950-1,010 MW
* Shares up 27 pct, shares of rivals also rise
(Adds details from conference call, analyst comment, share
May 21 Trina Solar Ltd forecast higher
solar panel shipments for the second quarter, helped by
improving demand from China, sending its shares up as much as 27
percent in morning trade.
Investors had feared that China would not be able to meet
its ambitious target of installing 14.5 gigawatts of solar
generating capacity this year, held back by a lack of funds to
build smaller projects.
Trina, however, said it expects China to help meet about
three-quarters of its 400-500 MW solar project target in 2014.
The company's shares rose to $13.15, making them the top
percentage gainer on the New York Stock Exchange.
Shares of a bunch of rival solar companies also rose, with
Yingli Green Energy Inc and ReneSola Ltd each up
as much as up 7 percent.
"I think the company helped alleviate some of the concerns
about China demands in the second half of the year," Angelo
Zino, an analyst with S&P Capital IQ, told Reuters.
Trina Solar said it expects second-quarter panel shipments
of 950 megawatts to 1,010 MW, much higher than the 558 MW it
shipped in the first quarter.
Nomura Securities International analyst Nitin Kumar said he
had been expecting 784 MW in shipments in the quarter.
Trina posted its third-straight quarterly profit on
Wednesday, helped by better prices.
The company and rivals such as JinkoSolar Holding Co Ltd
are also looking to Japan to boost demand as they ramp
up production capacity.
Solar demand in Japan has got a push after the country
introduced a feed-in tariff program in 2012 under which
utilities have to buy power from renewable energy suppliers at
pre-set premiums for up to 20 years.
This, coupled with generous subsidies in China, has helped
solar companies return to the black after a four-year slump
caused by weak panel prices.
Canadian Solar Inc and JA Solar Holdings Co Ltd
also posted first-quarter profits earlier this month
and forecast a rise in shipments.
Trina reported a net profit of $26.5 million, or 37 per
American depositary share (ADS), for the first quarter ended
March 31, compared with a loss of $63.7 million, or 90 cents per
ADS, a year earlier.
Trina's shares have risen more than 50 percent in the past
(Reporting by Anannya Pramanick, Swetha Gopinath and Shubhankar
Chakravarty in Bangalore; Writing by Sayantani Ghosh; Editing by
Maju Samuel and Don Sebastian)