Freyr has completed the acquisition of Chinese firm Trina Solar’s Texas solar manufacturing assets, completing its transition from a European battery company to a US solar one.
Freyr announced on 24 December that it had closed its acquisition of Trina Solar’s 5GW solar module manufacturing facility in Wilmer, Texas.
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Both PV Tech and Energy-Storage.news covered the US$340 million purchase announcement in November, at the same time that Donald Trump was declared to have won the presidential election.
At the time, Michael Parr, CEO of trade body The Ultra Low Carbon Solar Alliance, wrote on LinkedIn, “Looks like Trina is taking the risk of Congress cutting off access to the 45X manufacturing tax credit for Chinese companies seriously.”
For Freyr, the deal gives it an operational platform in the US clean energy industry after struggles to launch battery production in Europe. Battery manufacturing in Europe and the US has been the company’s focus since being founded in 2021 but it has faced major challenges, as previously covered on this site (Premium access article), and the European battery project now looks all but over.
Read the full version of this story on Energy.Storage-news.
