FREYR Battery to Acquire Trina Solar’s US Solar Manufacturing Assets

FREYR Battery has announced an agreement to acquire the US solar manufacturing assets of Trina Solar Co. Ltd. The deal, valued at $340 million, is expected to close by the end of 2024, pending customary conditions. This includes third-party consent and Trina Solar’s internal reorganization.

Under the agreement, FREYR will acquire Trina Solar’s 5 GW solar module manufacturing facility in Wilmer, Texas, which began production in November 2024.The facility will ramp up to full production in 2025 with 30% of output secured by firm offtake contracts with US customers.