By ESS news
Longi has taken a decisive step to reposition itself in the global clean energy value chain, gaining effective control of battery storage producer PotisEdge, in a deal that marks its strongest strategic pivot since becoming the world’s largest solar wafer producer.
A filing published on November 13 by the Shaanxi Administration for Market Regulation shows that the company will acquire approximately 62% (61.9998%) of PotisEdge’s voting rights through a mix of share purchase, capital injection and entrustment of voting rights. The acquisition gives LONGi a ready foothold in energy storage at a time when the solar sector is facing collapsing prices and industry-wide losses.
The transaction follows a period of rapid momentum for PotisEdge. Just weeks before the filing, the Suzhou-based company signed a strategic agreement with Australia’s Club Solar to deploy 2 GWh of residential storage systems, underscoring its strength in overseas markets.
To read further, visit our ESS news website.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.
Popular content
