Will Norman

TCL Zhonghuan Renewable Energy is Maxeon's largest shareholder and invested almost US$200 million in the company this year.

Board chair Christine Detrick cited an "ongoing disconnect between the share price and our view of intrinsic value."

In its World Energy Outlook 2024 report, the IEA said that geopolitical tensions and fragmentation are “major risks” for international energy supply security

The decision has been forecast for some months and was welcomed today by Holland Solar, the Dutch solar association, which acknowledged that the current scheme is “no longer sustainable”.

The deal pertains to Runergy’s operations in the US, where it operates a 2GW TOPCon module production facility in the state of Alabama.

France installed 4GW of solar PV capacity in 2023, a “record” according to the International Energy Agency (IEA).

The loan will support the development of the Guayepo I and II solar PV projects, as well as Enel's distribution business.

They relate to the tunnel oxide passivated contact (TOPCon)solar cells used in Runergy and Adani’s products sold in the US and the manufacturing processes for those cells.

DNV's report shows that 2024 is a landmark year, but the energy transition still faces financial and political headwinds.

EQT said the acquisition will help OX2 to grow its market position and strengthen its market presence in the long term.