Freyr Battery, a provider of battery solutions, has announced its entry into the solar manufacturing sector with a deal to acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, for $340 million. The transaction is expected to close by the end of the year, and Freyr plans to ramp up production at the 1.35 million-square-foot facility, which began operations on November 1.
Freyr’s acquisition marks the start of a broader strategy to establish a vertically integrated solar manufacturing footprint in the U.S. As part of this expansion, Freyr also plans to build a 5 GW solar cell manufacturing facility in the U.S., with construction set to begin in the second quarter of 2025 and the first solar cell production anticipated in late 2026.
“Domestic manufacturing capacity for solar and batteries is essential for energy transition and job creation,” said Freyr CEO Daniel Barcelo, emphasizing the importance of a strong U.S.-based solar supply chain.
Upon the transaction’s completion, Mingxing Lin, Trina Solar’s Head of Overseas Finance Center, will join Freyr as Chief Strategy Officer and board member, while Trina’s Co-General Manager, Dave Gustafson, will take on the role of Chief Operating Officer.
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