Maxeon Solar Technologies is undergoing a strategic restructuring of its business portfolio and geographic market to focus exclusively on the U.S.

As part of this strategy, the company has executed a five-year lease on a building in Albuquerque, N.M. and expects to begin solar panel manufacturing in the planned 2 GW capacity facility in 2026.

In rest-of-world markets, Maxeon and TCL Technology Group, the parent company of its majority shareholder, have reached agreement-in-principle for the sale of Maxeon’s EMEA, APAC and LATAM sales and marketing organization to TCL Group. The sale is slated to be incorporated into a newly formed solar solutions business unit, TCL SunPower International. The two companies have also agreed in principle for TCL Group to acquire Maxeon’s Philippines manufacturing operations.

These transactions are intended to create a global solar solutions company under TCL Group, while empowering Maxeon to capitalize on its U.S.-focused business platform. Maxeon and TCL Group anticipate signing definitive agreements by the end of the year.

“As Maxeon intensifies its focus on the U.S. market, our priority is to further expand our growing residential and commercial partner network and support our well-established base of utility-scale customers,” says George Guo, Maxeon’s CEO.

“This strategic re-focusing of our business is designed to keep us closer and more attuned to the needs of our U.S. customer base, allowing us to leverage Maxeon’s deep experience and top-tier reputation for product innovation and quality that are a result of almost 40 years of technology leadership and investments in intellectual property.”

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Maxeon Restructures Portfolio to Focus on U.S. Market