On the evening of December 22, Trina Solar released an announcement disclosing the latest progress in its asset divestment, equity acquisition, and business cooperation with T1 Energy. According to the announcement, Trina Solar has completed all share transfers related to the transaction with T1 Energy, marking the successful completion of this cross-border asset deal.
The transaction can be traced back to November 2024, when Trina Solar’s board of directors approved a proposal authorizing its wholly owned subsidiary, Trina Solar (Schweiz) AG, to sell a 5GW solar module manufacturing plant that had been completed in the United States to T1 Energy.
The transaction was carried out in two main phases.
In the first phase, completed by the end of 2024, Trina Solar successfully received USD 100 million in cash, preferred notes with a face value of USD 150 million, and an initial tranche of 15,437,847 shares of T1 Energy’s common stock.
Entering 2025, both parties continued to advance the second phase of the share transfer. By September 2025, Trina Solar had already received 12,521,653 shares of common stock from the second phase. According to the latest announcement, the remaining 17,918,460 shares of common stock were also successfully transferred in recent days.
With this, the asset transfer between Trina Solar and T1 Energy has been fully completed.
Based on the combined shareholdings from both phases, Trina Solar currently holds a total of 45,877,960 shares of T1 Energy’s common stock, representing approximately 17.4% of T1 Energy’s total outstanding shares as of December 18, 2025.
Alongside the completion of the transaction, T1 Energy announced on December 17 that it has initiated an upgrade of its U.S. domestic supply chain.
T1 Energy’s G2 Austin solar cell manufacturing plant in Texas has officially broken ground, with a total investment of USD 400–425 million. The first phase of the project is expected to achieve commercial operation by the end of 2026, with an annual capacity of 2.1GW of high-efficiency TOPCon solar cells.
The solar cells produced at the G2 Austin facility will be directly supplied to the 5GW module factory that T1 Energy previously acquired from Trina Solar, forming a localized “cell + module” manufacturing ecosystem.
To ensure raw material supply, T1 Energy plans to source high-purity polysilicon and wafers from Corning’s manufacturing campus in Michigan.
Looking ahead, T1 Energy also plans to expand the second phase capacity of the cell plant to 3.2GW and further scale up production in line with market demand.
Source：EnergyTrend
