February 24 (SeeNews) - Chinese solar products maker Trina Solar Ltd (NYSE:TSL) remained the world’s top manufacturer of crystalline photovoltaic (PV) modules in 2015 after producing an estimated 4.55 GW, according to GlobalData.
This is the second consecutive year in which Trina managed to beat its peers worldwide. In 2014, the firm dethroned Chinese sector player Yingli Green Energy (NYSE:YGE) with an annual production of 3.5 GW.
Trina Solar’s success can be mainly attributed to its continuous efforts to expand in key markets across the globe coupled with product innovations and a strong sales network, the research and consulting firm said. Last year alone, the Chinese company achieved a record-breaking conversion efficiency of 22.13% for its mono-crystalline silicon solar cells while at the same time planning capacity expansions, GlobalData Practice Head for Power, Ankit Mathur, noted.
Meanwhile, Canadian Solar Inc (NASDAQ:CSIQ) emerged as the second biggest PV module maker with 3.9 GW in 2015. It climbed two steps up from 2014’s fourth place, thanks to a rapid solar project pipeline expansion following the acquisition of Recurrent Energy.
Details on last-year’s top five and their annual production are available in the table below:
|Company||2015 PV module output|
|Trina Solar||4.55 GW|
|Canadian Solar||3.9 GW|
|JA Solar||3.38 GW|
|Hanwha Q CELLS||3.2 GW|
As for Yingli Green, the number-one supplier globally both in 2012 and 2013, production fell to 2.35 GW in 2015. Hurt by liquidity issues and debt repayments, the company plummeted from the second to the seventh spot in the global rankings in just a year, according to the report.