Longi acquires 62% of PotisEdge

Longi Green Energy Technology's acquisition of a controlling 62% stake in PotisEdge signifies a strategic move to expand its presence in the battery storage sector. The transaction, structured through a combination of equity acquisition, capital increase, and voting rights, grants Longi sole control over PotisEdge, previously largely held by individual investors. This acquisition provides Longi with a dedicated platform to develop and deploy battery storage solutions, complementing its existing solar technology business and potentially enabling integrated solar-plus-storage offerings. While the deal value remains undisclosed, the acquisition demonstrates Longi's commitment to diversifying its energy portfolio and capitalizing on the growing demand for energy storage solutions. The acquisition of PotisEdge, a battery storage company with a 31 MW capacity, by a solar giant like Longi, highlights the increasing convergence of solar and storage technologies. This move allows Longi to capture more value across the energy value chain and strengthens its position in the renewable energy market. The deal's location in China, a major player in both solar and battery manufacturing, further underscores its strategic importance. This acquisition could potentially trigger further consolidation and vertical integration within the renewable energy sector as companies seek to offer comprehensive energy solutions.