Trina Solar Ltd. expands in Europe and U.S.

NYSE-listed Trina Solar Ltd., a manufacturer of mono-crystalline ingots and wafers for use in solar module production, is expanding its existing alternative energy business in Europe and will begin sales in the U.S. market as soon as it receives its UL certifications from the U.S authorities. The company implements its expansion plans just as oil and natural gas prices continue to rise.

The company has already achieved 100% and 85% of its first and second half 2008 targeted module production, respectively, representing about 90% of its targeted module production from 200MW to 210MW for 2008.

Trina Solar's 2008 sales breakdown in its main markets is expected to be roughly 34% Germany, 26% Spain, 18% Italy, 10% Benelux and 5% in the U.S.

Since 2004, Trina Solar has been expanding aggressively to become a fully vertically integrated company when it secured its first business deal in Germany.

Trina Solar is now trading at an attractive valuation. The company has a current P/E of only 11.19. Analysts predicted a year-over-year growth in 2008 of 87.77%.

The U.S.-listed solar stocks have been popular the last few years but a recent sell-off in the sector has presented many opportunities for value investors.