- Master Supply Agreement with Trina Solar, a leading global manufacturer of photovoltaic (PV) solar panels
- Agreement secures long-term supply of best-in-class equipment to support the rollout and development of MPower’s renewable energy asset portfolio
- Unique opportunity to generate economies of scale while maintaining flexibility on a per-project basis
- Rollout underway, with Trina Solar technology deployed on MPower’s renewable energy project in Narromine, NSW
Sydney – 30 October 2023 – MPower Group Limited (ASX: MPR)
Leading specialist renewable energy and battery storage development company MPower Group Limited (ASX: MPR) is pleased to announce that it has signed a Master Supply Agreement (MSA) with Trina Solar, one of the world’s leading global suppliers of photovoltaic (PV) solar panels.
The MSA provides MPower with a strategic advantage via the long-term procurement of best-in-class components that can be flexibly implemented through specific product attributes that allow for rapid installation.
Trina Solar was selected as part of a competitive global bidding process held by MPower over an extended period, to select a technology partner for solar modules and solar trackers for its portfolio of solar and battery projects.
The agreement follows an extensive period of collaboration between the parties that included detailed product testing. It facilitates the deployment of Trina Solar components as part of MPower’s long-term development target for a portfolio of over 30 utility-scale solar farms across Australia’s eastern states, supplying a total capacity of more than 200MW.
In that context, the application of Trina’s technology to enhance MPower’s leading asset suite represents a major opportunity for growth within Australia’s multi-billion-dollar renewable energy market, and supports the ongoing rollout of MPower’s renewable energy project suite with world-leading technology and solar component parts.
Under the terms of the agreement, Trina Solar has agreed to supply an initial 39.5MWp of solar modules and 31.2MWp of TrinaTracker Vanguard 1P trackers, phased for delivery to suit MPower’s project rollout.
Image: MPower and Trina Solar executives
By setting out advantageous parameters for the long-term supply of key solar components, the agreement allows MPower to navigate pricing uncertainty while maintaining flexibility to build out its asset portfolio on a project-by-project basis.
The agreement leverages Trina Solar’s market position as the only in-market supplier that manufactures both modules and trackers, which allows for streamlined distribution and rapid installation.
The first deployment of Trina Solar components has commenced as part of construction works at MPower’s Narromine Renewable Energy Project, which is fully funded and under construction with all project rights secured (refer ASX Announcement 1 September 2023).
The Narromine project includes 6.7 MWdc of Bifacial PV Modules with the capacity to produce more than 14,000MWh of energy in its first year of operations. Construction is scheduled for completion in 2024, after which the project will generate revenue from the sale of renewable energy and certificates.
MPower Chief Executive Officer, Nathan Wise, commented: “We are pleased to announce this strategic supply agreement with Trina Solar, which was awarded following an extensive competitive process that was designed to ensure the procurement of best-in-class components for our asset portfolio on attractive commercial terms. In turn, MPower is now positioned to maximise economies of scale as its project pipeline continues to grow, with clear pathways to construction and development that will provide the group with further operating momentum. The first deployment of Trina Solar equipment has already been procured for construction at our Narromine project, further reflecting the practical application of the working arrangement with one of our major supply partners. We look forward to providing more updates on the growth and development of our project portfolio in the months ahead.”
Ends
Contact
For further information, please contact:
Nathan Wise
Chief Executive Officer
(02) 8788 4600
Ben Jarvis
Six Degrees Investor Relations
0413 150 448
This announcement has been authorised by Nathan Wise, Chief Executive Officer.
About MPower
MPower Group Limited (ASX: MPR) is a technology-led company with a long history specialising in the delivery of reliable on-grid and off-grid power solutions for blue chip corporate and government customers. Headquartered in Sydney, MPower's team of professionals has successfully delivered turn-key solar, battery storage and micro grid projects across the region.
About Trina Solar
Founded in 1997, Trina Solar is the world leading PV and smart energy total solutions provider. The company engages in PV products R&D, manufacture, and sales; PV projects development, EPC, O&M; smart micro-grid and multi-energy complementary systems development and sales, as well as energy cloud-platform operation. In 2018, Trina Solar launched its Energy IoT brand, established the Trina Energy IoT Industrial Development Alliance together with leading enterprises and research institutes in China and around the world and founded the New Energy IoT Industrial Innovation Centre. With these actions, Trina Solar is committed to working with its partners to build the energy IoT ecosystem and develop an innovation platform to explore New Energy IoT, as it strives to be a leader in global intelligent energy. In June 2020, Trina Solar listed on the STAR Market of Shanghai Stock Exchange.
For more information, please visit www.trinasolar.com.