Trina Solar receives loan of $304 million to help expand capacity over next three years

Trina Solar receives $304 million loan

NEW YORK — Trina Solar Ltd., a solar power company, said on Tuesday it received a loan of $304 million to expand capacity at its east campus location over the next three years.

Loan proceeds will be used to fund capital expenditures for the rest of 2009 and pay back outstanding loans of about $80 million due on June 30.

“The syndicated loan facility combined with the proceeds from our recent follow-on offering will allow us to improve our long-term capital resources as we carry out our market-driven expansion plan and elevate our manufacturing technology platform,” Chief Executive Jifan Gao said in a statement.