Chinese solar manufacturer Trina Solar has signed a framework investment agreement with PingAn Trust and Jiangsu Jiuzhou Investment Group to develop photovoltaic (PV) power plants in China over the next three years, totalling 500MW to 1,000MW.
The investors will sign convertible loan arrangements with the Chinese firm to support the development of downstream projects in the country.
These financiers, however, will be able to convert minority stake in the project firms at pre-determined times.
Investors will also offer bridge loans for the power developments, after due diligence on the projects is concluded, which is expected to meet the funding requirements in the construction phase.
Trina Solar chairman and CEO Jifan Gao said: "According to the government’s plan, China’s photovoltaic power installation capacity will reach more than 100GW by 2020.
"In 2015, we will use this strategic collaboration as an opportunity to further reinforce and expand our leading position in China’s PV market."
PingAn Trust industry iepartment general manager Yuhang Li said: "We are delighted to work with Trina Solar to jointly develop solar projects in China that will generate stable and recurring cash flows in line with our investment strategy and the Chinese Government’s objectives."
Jiuzhou Investment president Shijin Luo said: "China is now in a new era of energy reform as it looks to promote green energy, including solar energy production and consumption.
"As the world’s largest solar module manufacturer with an established global brand, Trina Solar has made steady progress in the downstream business in recent years.
"We view Trina as a trusted partner for our move into the solar energy business."