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Trina Solar Co. Ltd. has secured $235 million in financing for its planned 1.35 million-square-foot plant in Wilmer.
The six-year loan was announced Aug. 7 by Standard Chartered PLC, the British bank that secured the deal for China-based Trina Solar.
The loan will be used to fund the construction and operation of Trina Solar’s solar photovoltaic manufacturing plant, according to the announcement. It will be in the Tradepoint 45 West industrial hub that's under construction off Sunrise Road, west of I-45. That's about 15 miles south of downtown Dallas.
The loan is a non-recourse senior green loan, according to Standard Chartered. That means it's secured by collateral, but the lender's recourse to the collateral is limited. Meanwhile, green loans are an increasingly popular way for lenders and investors to tap into renewable energy projects.
A bank spokesperson said the deal closed July 30. Standard Chartered served as the sole lead structuring bank, book runner for the financing, and green loan coordinator. It said Trina Solar's project will be one of the first solar panel manufacturing plants to be financed on a non-resource basis in the country.
"We are delighted to announce the successful signing and funding of our first syndicated projected financing with Standard Chartered, marking the first non-recourse syndicated project financing in the United States raised by a PV module manufacturer and renewable enterprise," Jerry Sen Wu, chief financial officer at Trina Solar, said in a statement. "We extend our heartfelt appreciation to Standard Chartered and all our banking partners for their unwavering support in our mission to bring 'Solar Energy for All,' lead industry innovation, and uphold environmental protection as a core aspect of our corporate social responsibility."
Trina Solar initially announced plans for the Wilmer solar panel factory in late 2023. Then it announced early this year it leased all 1.35 million square feet at Tradepoint 45 West, with plans to invest more than $200 million.
Its plant is expected to feature seven solar photovoltaic panel assembly lines manufacturing three types of solar modules and house 1,500 jobs once it's fully operational.
Tradepoint 45, being developed by Champion Partners, includes 40-foot clear heights, 354 trailer positions and 306 car parking spots with the ability to expand to 690 total trailer positions and 557 spots for cars. Ground was broken for Tradepoint 45 in late 2023.
Established in 1997 in Changzhou, China and with a U.S. headquarters in Silicon Valley, Trina Solar is a smart solar products producer that provides clean energy to developments in over 160 countries and regions. The recent financing follows a three-year $250 million syndicated green loan Standard Chartered helped facilitate for Trina Solar in 2022.
