T1 Energy is crushing it in Texas. The former FREYR Battery company exceeded production goals by 48%, churning out 220 MW of solar modules in early 2025 at their massive Wilmer facility. Four production lines running full tilt. Texas added 11.6 GW of solar last year, more than the next two states combined. T1’s planning another $850 million plant in Milam County. America’s solar revolution has a new heavyweight contender.
A revolution is brewing in the Lone Star State. T1 Energy, formerly known as FREYR Battery, has turned heads with its massive 5 GW solar module manufacturing plant in Wilmer, Texas. The 1.35 million square foot facility started cranking out solar panels on November 1, 2024, and hasn’t looked back. Over 1,000 Texans now call this plant their workplace. Not too shabby for a company that basically reinvented itself.
The numbers don’t lie. T1 blew past its production plans by a whopping 48% in early 2025. January and February saw over 220 MW of solar modules rolling off the assembly line. Four utility-scale production lines are humming along, churning out both PERC and TOPCon modules. The company is uniquely positioned as the only U.S. manufacturer capable of delivering domestically produced modules with both PERC and TOPCON technologies. At this rate, they’ll hit their 3.4 GW target for 2025 with time to spare. Talk about overachieving.
But wait, there’s more. T1 isn’t content with just making modules. They’re going vertical with plans for a 5 GW solar cell manufacturing facility in Milam County, Texas. They snagged a 100-acre lease faster than you can say “renewable energy” – just 100 days for site selection. The company aims to become a leading American provider of integrated solar and battery solutions through this expansion.
Construction kicks off mid-2025, with production slated for the second half of 2026. The $850 million investment will create up to 1,800 new jobs. Because apparently, Texas needs more solar jobs.
This isn’t happening in a vacuum. Texas added a staggering 11.6 GW of solar PV in 2024 alone – more than the next two states combined. The Lone Star State is becoming the solar star state. These installations will benefit from minimal maintenance requirements, needing only occasional cleaning to maintain optimal efficiency.
Financially, T1’s looking pretty solid too. They recorded their first revenues in Q4 2024 and expect 2025 EBITDA between $75-125 million. By 2027, they’re targeting annual run rates of $600-700 million.
Wall Street’s taken notice, with analysts unanimously setting a $4.00 price target against their current $237 million market cap.
Texas and solar. Who would’ve thought?
