Shenzhen Nanshan Power has signed a preliminary agreement with Trina Solar and its wholly owned subsidiary, Trina Solar (Changzhou) Science & Technology, to acquire a 51% to 70% stake in the company that operates TrinaTracker, the solar manufacturer’s tracking business.
The Changzhou-based target, established in 2019, is currently wholly owned by Trina Solar through its subsidiary. If completed, the transaction would give Shenzhen Nanshan Power control of the business and allow it to consolidate the company’s financial results. The deal would be financed entirely in cash and would not involve issuing new shares or changing Shenzhen Nanshan Power’s controlling shareholder.
The companies have not settled on the stake, valuation or payment schedule. The purchase price will follow an independent asset valuation, and performance commitments and compensation arrangements are expected to be negotiated for a definitive agreement. Due diligence, audits, valuation and corporate approvals are still required before the parties can sign a binding deal.
TrinaTracker supplies solar tracking systems, including the Vanguard-1P and Vanguard-2P, as well as control technologies. Trina Solar said the business had delivered more than 43 GW of tracking systems in over 70 countries by the end of 2025 and had annual global production capacity above 15 GW. Wood Mackenzie ranked it second in its 2026 global tracker manufacturer assessment, which considers areas including research and development, service capabilities, supply chain resilience and financial strength.
Trina Solar told Chinese media on Nov. 2 that it planned to bring in a strategic partner to strengthen operational synergies. It said it would continue to focus on solar and energy storage while developing integrated energy solutions and technologies for AI data centers.
The proposed sale comes as Trina Solar faces financial pressure. It reported a net loss attributable to shareholders of CNY 1.94 billion ($285 million) on revenue of CNY 47.98 billion in the first nine months of 2026. A majority sale could provide additional capital while leaving Trina Solar with a minority interest, but the companies have not disclosed any post-transaction supply or cooperation agreements.
Sources: pv magazine.