Trina Solar plans to increase shipments in 2016

Trina Solar, one of China's largest solar panel makers, said it will increase its total solar module shipments to 6.5 gigawatts this year, as the solar industry is recovering from a slump that started in 2011 due to overcapacity.

Gao Jifan, chairman and chief executive officer of Trina Solar said that the industry has seen growth for solar products especially in emerging markets such as India and countries in Southeast Asia.

"We also made progress on our global capacity expansion plans with facilities in partnerships in Malaysia and Vietnam, and this has helped meet a growing demand for our products in overseas markets," he said, adding that their products are now sold in more than 20 countries.

Trina Solar has built a cell and module facility in Thailand, which is expected to be operational this year.

Trina Solar reported full-year total solar module shipments of 5.74 GW, an increase of 56.8 percent from 3.66 GW in 2014.

The solar company reported a total revenue of $3 billion, up 32.8 percent over the previous year.