Maxeon Solar Technologies, manufacturer of premium PV modules, has had quite a year – and like this year, the Maxeon saga is not over yet.
Yesterday the company announced a major strategic restructuring of its business portfolio and market focus; intends to focus exclusively on the US market. The Company has agreed in principle to sell Maxeon’s EMEA (Europe, Middle East and Africa), APAC (Asia Pacific) and LATAM (Latin America) sales and marketing organization to TCL Group, which will create a solar solutions business unit called “Solar Solutions” will form TCL SunPower International.
In addition, the two have agreed in principle that TCL Group will take over Maxeon’s manufacturing operations in the Philippines.
Who is TCL Group?
China’s TCL Group is Maxeon’s majority shareholder and its parent company has existed for more than 40 years. TCL Group is probably best known for consumer electronics such as display panels, televisions, other home appliances and mobile devices. But there is also a solar arm, TCL Photovoltaic Technology, which describes itself as a provider of “one-stop solutions that integrate development, manufacturing and energy management.”
What will happen in Australia?
SunPower solar panels have long been used for residential rooftop installations in Australia and are considered by some to be the “Rolls Royce” of solar panels (both in terms of quality and price).
SunPower’s solar PV manufacturing arm was separated from the US installation side back in 2020 and a new company emerged – Maxeon Solar Technologies. In August of this year, SunPower Corporation (USA) filed for bankruptcy protection. But SunPower-branded Maxeon products were manufactured in Australia by SunPower Corporation Australia Pty Ltd. sold, which is independent of the US-based SunPower Corporation.
As part of the new restructuring, TCL Group President and COO Kevin Wang said:
“Outside the U.S., TCL SunPower plans to provide innovative, sustainable solar solutions for both homeowners and businesses,” he said. “This includes SunPower-branded solar solutions sold through existing SunPower-branded exclusive installation partners, as well as TCL Solar products sold through distribution channels.”
I asked SunPower Corporation Australia about the future situation and they informed me that the SunPower (Maxeon) team and SunPower Australia legal entity will not change as a result of this latest restructuring. The current product portfolio will remain available and accessible and the company will continue to honor existing SunPower/Maxeon warranties in Australia with increased financial support from TCL Group.
Maxeon’s USA plans… and problems
Maxeon recently signed a five-year lease for a building in Albuquerque, New Mexico, as the first phase of its solar manufacturing plans in the US. Assuming everything goes according to plan, this will allow Maxeon to open a 2 GW module assembly facility, which is expected to begin operations in 2026. The company continues to explore establishing solar cell production capacity in the United States.
Maxeon currently has a solar cell manufacturing facility in Malaysia, another in the Philippines, and two solar panel assembly factories in Mexico. However, the company hasn’t had much fun recently transporting panels from Mexico across the border into the United States. The company said earlier this month that the modules continue to be detained despite providing U.S. Customs and Border Protection (CBP) officials with traceability documentation of their clean supply chain.
“…CBP auditors have alleged a lack of sufficient documentation to demonstrate Maxeon’s compliance with the Uyghur Forced Labor Prevention Act (UFLPA), which the company vehemently denies after providing clear and objective evidence to the contrary “said the company.
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