Maxeon Solar Technologies is restructuring to concentrate exclusively on the US solar market. To support this focus, the company plans to establish a 2 GW solar panel manufacturing facility in Albuquerque, New Mexico. This facility, expected to be operational by early 2026, will enhance its domestic supply chain and partnerships across residential, commercial, and utility-scale sectors. Concurrently, Maxeon has reached an agreement-in-principle with TCL Technology Group to transfer its EMEA, APAC, and LATAM operations, including sales, marketing, and Philippines manufacturing, to TCL. These assets will form a new unit, TCL SunPower International. The transition, with definitive agreements expected by late 2024, will allow Maxeon to operate independently as a US-focused, innovation-driven company listed on NASDAQ.
Maxeon targets US solar growth with new strategy
The Albuquerque facility is part of Maxeon’s plan to build a domestic solar panel supply chain in the US. (Image Source: Maxeon)
The acquisition is expected to close by the end of fiscal year 2024, pending standard conditions. (Image Source: Alternus Clean Energy)
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The Houston-based facility will start producing 1 GW of solar modules by mid-2025, expanding to 2.5 GW by year-end. (Image Credit/Source: Andreas160578/Pexels)