Trina Solar has completed the sale of its 5 GW solar module manufacturing facility in the United States to T1 Energy.The Shanghai-listed company announced in a filing dated December 23,2025,that all asset transfer and equity exchange procedures have now been finalized.
The transaction,initially approved by Trina Solar's board in November 2024,involves the handover of the fully constructed plant.This facility,originally developed as Trina Solar US Manufacturing Module 1 and located in the Dallas area,has been renamed T1 G1 Dallas Solar Module under the new ownership.
As part of the deal structure,Trina Solar received a combination of cash,senior preferred notes,and equity in T1 Energy.By the end of 2024,the company had obtained$100 million in cash,$150 million in senior preferred notes,and an initial tranche of 15.4 million common shares.During 2025,an additional 30.4 million shares were transferred in two phases,with the final delivery completed earlier in December following necessary regulatory clearances.
Following these transfers,Trina Solar holds approximately 45.9 million shares in T1 Energy,representing a 17.4%stake based on the outstanding shares as of December 18,2025.The company noted that this ownership percentage is lower than initially anticipated due to subsequent share issuances by T1 Energy,which resulted in dilution.Trina Solar indicated that the value of its equity holding will vary according to market conditions.
The facility was built as part of Trina Solar's strategy to establish localized production in the U.S.,benefiting from incentives under the Inflation Reduction Act and addressing tariff considerations.It represents a 5 GW annual capacity for solar module assembly.
For T1 Energy,formerly known as FREYR Battery before its rebranding,the acquisition provides an operational U.S.-based module manufacturing asset.The company is advancing plans to develop domestic solar cell production,positioning the Dallas facility within a broader effort to meet U.S.domestic content requirements and support a vertically integrated supply chain.
This transaction allows Trina Solar to exit direct manufacturing operations at the site while maintaining a meaningful minority interest in T1 Energy.It aligns with ongoing developments in the U.S.solar industry,where companies focus on expanding local production capabilities to enhance supply chain resilience and comply with policy frameworks promoting domestic manufacturing.
The completion of this multi-phase deal underscores continued activity in the solar sector,with strategic partnerships enabling efficient resource allocation and growth opportunities for both parties.
