WWW.RENEWABLEENERGYWORLD.COM
Maxeon Solar Technologies is making a bold move to focus solely on the growing United States market by agreeing to offload its Philippines manufacturing operations and securing a lease for a solar module plant in New Mexico.
Maxeon has signed a five-year lease on an existing building in Albuquerque, NM where the company plans to set up a 2 gigawatt capacity module assembly facility by early 2026.
Maxeon and TCL Technology Group, the parent company of its majority shareholder, have agreed in principle for TCL Group to acquire Maxeon’s Philippines manufacturing operations. The companies have also reached an agreement in principle for Maxeon’s EMEA, APAC, and LATAM sales and marketing organization. TCL Group will incorporate its acquisition into a newly formed solar solutions business unit, TCL SunPower International.
“Outside of the U.S., TCL SunPower plans to provide innovative, sustainable solar solutions for both homeowners and businesses,” said Kevin Wang, TCL Group president and COO. “These would include SunPower branded solar solutions sold via the existing SunPower branded exclusive installation partners, as well as TCL Solar products sold through distribution channels.”
Maxeon and TCL Group anticipate signing definitive agreements by the end of 2024. Once the transactions are completed, Maxeon will continue to operate as an independent, publicly traded NASDAQ-listed company solely focused on the U.S. residential, commercial, and utility-scale markets.
“As Maxeon intensifies its focus on the U.S. market, our priority is to further expand our growing residential and commercial partner network and support our well-established base of utility-scale customers,” said George Guo, Maxeon’s new CEO. “This strategic re-focusing of our business is designed to keep us closer and more attuned to the needs of our U.S. customer base.”
Guo says a core element of Maxeon’s U.S. strategy is to participate in the creation of a domestic solar supply chain. Maxeon continues to evaluate a longer-term objective of also establishing solar cell manufacturing capacity.
Maxeon has been battling to get its products across the Mexico border and into the United States for the better part of 2024. Since July, all of Maxeon’s solar modules headed from its manufacturing facilities in Mexico to the U.S. have been detained by Customs and Border Protection (CBP) to assess compliance with the Uyghur Forced Labor Prevention Act (UFLPA). CBP alleges there’s a lack of sufficient documentation proving compliance and Maxeon vehemently denies any insinuation of impropriety.
Maxeon continues to engage with Customs and Border Patrol on the detention of Maxeon IBC and Performance Series products, according to a company spokesperson. The company remains confident that its supply chains are UFLPA compliant and that the Maxeon products will be released.
