Maxeon Solar Technologies (NASDAQ: MAXN), one of the global leaders in solar technology, has announced a major strategic overhaul of its business portfolio. This decision aims to refocus the company on the U.S. solar market, where it already has a strong presence and an expanding manufacturing infrastructure.
As part of this strategy, Maxeon has signed a five-year lease for a building in Albuquerque, New Mexico. This site will host a new solar panel manufacturing facility with a 2-gigawatt capacity, scheduled to begin operations in early 2026. This initiative aligns with the company’s goal of building a domestic solar supply chain and meeting the growing needs of the residential, commercial, and utility-scale markets in the U.S.
A strategic shift for international markets
For its international operations, Maxeon has reached agreements in principle with TCL Technology Group, the parent company of its majority shareholder. These agreements include the sale of sales and marketing activities in Europe, the Middle East, and Africa (EMEA), Asia-Pacific (APAC), and Latin America (LATAM) to TCL Group. These assets will be integrated into a new entity called TCL SunPower International.
At the same time, TCL Group will also acquire Maxeon’s manufacturing facilities in the Philippines. These transactions will enable TCL to establish a robust global solar platform while allowing Maxeon to focus on its expertise and growth within the U.S. market.
Close collaboration with local authorities
According to George Guo, Maxeon’s CEO, this strategic repositioning will enable the company to stay closer to its U.S. customers while strengthening its partner network. He also highlighted the importance of support received from local authorities, including the governor of New Mexico and municipal and state officials, in setting up the Albuquerque site.
Globally, TCL SunPower plans to develop innovative and sustainable solar solutions for homeowners and businesses. This includes distributing solar solutions under the SunPower brand through exclusive installation partners and marketing TCL Solar products via distribution channels.
