From ESS News
Longi has moved decisively to reposition itself in the global clean-energy value chain, acquiring effective control of battery storage maker PotisEdge in a deal that marks its strongest strategic pivot since becoming the world’s biggest solar-wafer producer.
A filing published on Nov. 13 by the Shaanxi Administration for Market Regulation shows the company will obtain about 62% (61.9998%) of PotisEdge’s voting rights through a mix of equity purchase, capital injection and voting-rights entrustment. The acquisition gives LONGi a ready-built foothold in energy storage at a moment when the solar PV sector faces collapsing prices and industry-wide losses.
The transaction follows a period of rapid momentum for PotisEdge. Just weeks before the filing, the Suzhou-based firm signed a strategic agreement with Australia’s Club Solar to deploy 2 GWh of residential storage systems, underscoring its strength in overseas markets.
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