Trina OK'd to Develop 50 MW Chinese Solar Project
Jan 14th 2013 4:56PM
Updated Jan 14th 2013 5:30PM
On Monday, Trina Solar confirmed that it has received approval from China's Gansu Provincial Development and Reform Commission to build a 50 megawatt, grid-connected solar power plant in Wuwei, Gansu. The project is described as being at least in part designed to "support economic stimulus" in the region, but also a favorable location because of the area's generally sunny conditions.
Neither the cost of the construction nor Trina's methods of paying for it were disclosed. In 2011, the most recent year for which full-year financials are available, Trina spent $360.9 million on capital projects while generating only $21.9 million in operating cash flow.
Shares of the company closed down 0.7% on the news, at $5.58.
The article Trina OK'd to Develop 50 MW Chinese Solar Project originally appeared on Fool.com.Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.