FREYR Battery, a Norway-based energy firm, has agreed to acquire US solar manufacturing assets from Trina Solar for $340 million. According to FREYR, this acquisition includes a 5 GW solar module manufacturing plant in Wilmer, Texas, which began production on November 1, 2024. The facility is expected to reach full capacity in 2025, with 30% of production already committed to US contracts. FREYR’s plans include a second phase: a 5 GW solar cell manufacturing facility, with US site selection underway and production targeted for late 2026. FREYR claims this move will establish a vertically integrated, US-based solar manufacturing presence, creating 1,800 jobs and supporting local content compliance. The deal involves $100 million in cash, a $50 million loan repayment, a $150 million loan note, and up to 21.4% equity in FREYR.
FREYR Battery to acquire Trina Solar’s US solar assets
FREYR’s strategic acquisition aims to establish a US-based, vertically integrated solar production line. (Image Source: TrinaSolar)
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