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Maxeon Solar to divest non-US assets, focus on US market expansion

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Singapore-based Maxeon Solar Technologies has announced plans to divest its non-US assets, concentrating exclusively on the US market to drive growth and profitability.  Maxeon will lease a facility in Albuquerque, New Mexico, for solar panel production, targeting a 2 GW capacity by early 2026. The divestment includes its sales, marketing, and manufacturing operations in Europe, the Middle East, Africa, Asia-Pacific, and Latin America, which will be acquired by TCL Group, its majority shareholder. These operations…

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Hungary proposes amendments to Paks nuclear plant contract with Rosatom

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On November 19, 2024, the Hungarian government introduced a bill to its parliament seeking to amend the existing contract with Russia’s Rosatom for the expansion of the Paks nuclear power plant.  The Paks expansion, valued at €12.5 billion ($13.2 billion), includes two 1.2 GW VVER reactors and is critical for Hungary’s energy strategy. The plant currently supplies 40% of the country’s electricity.  Delays stemming from permitting challenges, the Covid-19 pandemic, and sanctions on Russia have…