Trina to buy solar equipment from GT Solar

Changzhou, China-based Trina Solar (NYSE: TSL) announced that it signed a $49 million agreement to buy solar equipment from Merrimack, N.H.'s GT Solar.

Trina said the contract is for primary converter and reactor systems for a planned polysilicon production project.

"We are very excited to further our partnership with GT Solar, who will provide us a world class platform which is expected to extend our technology, brand and cost advantages to include silicon feedstock under our vertically integrated manufacturing model," said Jifan Gao, chairman and CEO of Trina Solar's Chairman and CEO.

"We believe GT Solar's advanced technology will help Trina Solar to reduce cost in the long run in connection with our polysilicon production."

Trina makes solar photovoltaic products including ingots, wafers and cells, and assembles photovoltaic modules.

GT Solar makes equipment used to produce multi-crystalline solar wafers, cells and modules, as well as polysilicon reactors.

"Trina Solar's order for our advanced polysilicon manufacturing equipment and technologies to support their upstream expansion plan is a strong indication of GT Solar's continued expansion in the Asia market," said Tom Zarrella, CEO of GT Solar.

Trina said the purchase price for the GT Solar equipment would be paid in installments over a period of 12 to 18 months.

The contract is subject to final approval by the boards of both companies.