Suntech,Trina Solar sign $11.7 bln loan deals

China's top solar power equipment makers Suntech Power Holdings (STP.N) and Trina Solar (TSL.N) have signed framework agreements with China Development Bank (CDB) [CHDB.UL], giving them access to a combined 80 billion yuan ($11.72 billion) in loans, company officials said.

Suntech, China's largest solar cell and panel maker, signed an agreement with CDB for up to 50 billion yuan ($7.33 billion) worth of loans over five years, Rory Macpherson, Suntech's director for investor relations, told Reuters on Wednesday.

"It's a non-binding agreement," he said. "It's not related to specific projects ... it could be used for capacity expansion. It essentially shows the strong partnership between Suntech and China Development Bank," he said, adding that the agreement was signed in the past two weeks.

Trina Solar forged a 30 billion yuan ($4.40 billion) loan agreement with CDB that will last through 2015, Chief Financial Officer Terry Wang said.

Labels: solar charts, Solar Stocks, STP, Suntech Power, Trina Solar, TSL

posted by Ertai at 8:29 AM