Chinese renewables giant Trina Solar Co. has agreed to sell its U.S. solar manufacturing operations amid increasing scrutiny of Chinese companies cashing in on clean energy tax incentives created under the Biden administration’s climate law.
Norwegian battery cell developer FREYR has acquired Trina Solar’s U.S. manufacturing operations, paying Trina $340 million.
According to Solar Power World, FREYR will now take control over Trina’s 5 GW solar panel assembly facility in Wilmer, Texas.
The transaction is expected to close before the end of the year. At that time, FREYR will start focusing its efforts on domestic cell manufacturing. Site selection is already underway, with the company targeting construction to begin in the second quarter of 2025. The cell outfit is projected to create 1,800 jobs and begin production in 2026.
“We are pleased to announce this transformative transaction, which will immediately position the company as one of the leading solar manufacturing companies in the U.S.,” said Daniel Barcelo, FREYR’s newly appointed CEO. “We are proud to be partnered with Trina Solar, a global manufacturing and solar technology leader. Domestic manufacturing capacity for solar and batteries is essential for energy transition and job creation. The U.S. was once the global leader in solar, and it can be again.”
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