3. Runergy (U.S. Operations)
Runergy, a rapidly emerging competitor in the solar energy sector, is building a massive 5-gigawatt solar module plant in Huntsville, Alabama. In August 2024, Tongwei Co., Ltd., a $30+ billion Chinese solar giant, moved to acquire a controlling stake in Runergy for nearly $700 million.
The deal has detailed a multi-step acquisition process, which ultimately aims at Tongwei securing at least 51% of Runergy’s equity. Tongwei, based in Chengdu, is already one of the world’s largest solar module manufacturers and is now poised to gain a major foothold in the American market.