US-based Trina Solar Ltd has announced a strategic partnership with FREYR Battery to establish a 5 GW solar module manufacturing facility in Wilmer, Texas, which is anticipated to be operational by the end of 2024. The collaboration includes technology and market integration, with Trina Solar appointing key executives to streamline operations at FREYR. Trina will manufacture and market solar modules under its brand, enhancing its supply chain and presence in the US market. As part of the agreement, Trina Solar will acquire a 19.08% equity stake in FREYR in two stages, starting with 9.9% and followed by an additional stake pending regulatory approval. Should approvals not materialize, Trina is guaranteed $80 million in preferred notes.
Trina Solar secures equity stake in FREYR with Texas deal
The new solar module plant in Wilmer, Texas, will operate under the Trina brand, strengthening US-based production capabilities. (Image Source: TrinaSolar)
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