U.S. solar manufacturing company FREYR Battery (NYSE: FREY) announced on Tuesday that it has completed the acquisition of Trina Solar's U.S. solar manufacturing assets.
Under the terms of a definitive agreement, FREYR has acquired Chinese peer Trina Solar's 5GW solar module manufacturing plant in Wilmer, Texas.
The plant commences production on November 1, 2024 and is expected to reach full capacity by the second half of 2025, with 30% of the expected production supported by long term offtake contracts with U.S. customers.