Premium PV panel manufacturer Maxeon Solar Technologies has had quite a year – and like the year, the Maxeon saga ain’t over just yet.
Yesterday the company announced a major strategic restructuring of its business portfolio and market focus; intending to focus exclusively on the U.S. market. The company has agreed in principle for the sale of Maxeon’s EMEA (Europe, the Middle East and Africa), APAC (Asia Pacific) and LATAM (Latin America) sales and marketing organisation to TCL Group, which will form a solar solutions business unit named TCL SunPower International.
Furthermore, the pair have also agreed in principle for TCL Group to acquire Maxeon’s Philippines manufacturing operations.
Who Is TCL Group?
China’s TCL Group is Maxeon’s majority shareholder and its parent company has been around for more than 40 years. TCL Group is probably best known for consumer electronics such as display panels, TVs, other home appliances and mobile devices. But there’s also a solar arm, TCL Photovoltaic Technology, which describes itself as providing “one-stop solutions integrating development, manufacturing, and energy management”.
What Will Happen In Australia?
SunPower solar panels have been used for residential rooftop installations in Australia for a long time and are considered by some to the “Rolls Royce” of solar panels (both in terms of quality and price).
The solar PV manufacturing aspect of SunPower was separated from the US installation side back in 2020 and a new company emerged – Maxeon Solar Technologies. In August this year, SunPower Corporation (USA) filed for bankruptcy protection. But SunPower branded Maxeon products have been sold in Australia by SunPower Corporation Australia Pty Ltd., which is independent from the US-based SunPower Corporation.
Under the new restructuring, TCL Group President and COO Kevin Wang said:
“Outside of the U.S., TCL SunPower plans to provide innovative, sustainable solar solutions for both homeowners and businesses,” he said. “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.”
I asked SunPower Corporation Australia about the situation here going forward and they informed me the SunPower (Maxeon) team and SunPower Australia legal entity will not change with this latest restructuring. The current product portfolio will remain available and accessible, and the company will still be honouring existing SunPower/Maxeon warranties in Australia with stronger financial backing from TCL Group.
Maxeon’s USA Plans …And Problems
Maxeon recently inked a five-year lease on a building in Albuquerque, New Mexico as the first stage of its solar manufacturing plans in the USA. Assuming things go to plan, this will allow Maxeon to roll out a 2 GW module assembly facility expected to commence operations in 2026. The firm is continuing to look into also establishing solar cell manufacturing capacity in the US.
Maxeon currently has a solar cell manufacturing facility in Malaysia, another in the Philippines, and two solar panel assembly factories in Mexico. But the company hasn’t had much joy of late getting panels from Mexico across the border into the USA. The company stated earlier this month that despite providing U.S. Customs & Border Protection (CBP) officials with traceability documentation of its clean supply chain, the modules continue to be detained.
“.. CBP reviewers have alleged a lack of sufficient documentation to prove Maxeon’s compliance with the Uyghur Forced Labor Prevention Act (UFLPA), which the Company vehemently refutes, having provided clear and objective evidence to the contrary,” the firm said.
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