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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."

The US added 18.5GWac of utility-scale solar capacity in 2023, and added 14.3GWac of such capacity in the first eight months of 2024.

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

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

US independent power producer (IPP) BrightNight has secured US$260 million in tax-equity finance from investment banks JP Morgan and Capital One, to aid in the development of a 300MW solar PV power plant in Pinal County, Arizona.

Danish renewable energy company Ørsted and US utility Salt River Project (SRP) have confirmed that their 300MW solar-plus-storage project in Pinal County, Arizona, has commenced operations.

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.

Vietnamese solar manufacturer Boviet Solar has started construction on its 2GW TOPCon module assembly plant in North Carolina, US, with the solar cell plant to follow suit.