* To ship 23 MW in 2010
* Shares up 1 pct premarket
March 12 (Reuters) - 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. [ID:nSGE62A0EO]
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 Chaudhuri)