T1 Energy Secures 1.58 GW Solar Contracts, Targets 2027 Capacity Expansion
T1 Energy Inc. (NYSE:TE) shares are trading lower in premarket trading on Thursday after the company reported weaker-than-expected third-quarter results.
The company reported a loss of 12 cents per share, missing analyst estimates for a loss of 11 cents. Revenue came in at $196.590 million, below expectations of $273.369 million.
CEO and Chairman Dan Barcelo said stronger module pricing and demand following the Section 232 proclamation supported the company’s 5.3 GW production target for 2027. T1 is also advancing G2_Austin construction, hiring key personnel and pursuing financing to establish an integrated U.S. solar manufacturing supply chain.
G1_Dallas produced 1,056 MW of modules, its second-highest quarterly output, while adding 326 MW to inventory for 2027 deliveries.
Gross margin was 8.5%, and adjusted EBITDA recorded a loss of $16.4 million. Higher production costs and inventory buildup weighed on results, alongside $71.2 million in SG&A expenses, reflecting increased staffing and financing, transaction and legal costs.
As of Sept. 30, the company had cash, cash equivalents, and restricted cash of $137.0 million.
G2_Austin Update
T1 is negotiating with institutional investors under an exclusivity arrangement to secure debt financing for its G2_Austin solar cell facility.
The proposed financing may involve additional equity or equity-linked securities and remains subject to definitive agreements and other conditions.
On Oct. 22, T1 received a Commerce Department waiver allowing imports of up to 1.725 GW of solar cells to maintain G1_Dallas production while construction continues on the first 2.1 GW phase of G2_Austin in Rockdale, Texas.
The company also plans to explore eligibility for the onshoring relief program based on its G2_Austin investment.
New Solar Module Contracts And Demand
Following the U.S. Department of Commerce’s Section 232 proclamation supporting domestic polysilicon production, T1 reported stronger customer interest in its 2027–2030 production capacity at G1_Dallas and G2_Austin.
The company signed new offtake agreements covering more than 1.58 GW of solar modules, including a deal with independent power producer Avantus.
It expects to supply high-efficiency TOPCon modules from G1_Dallas in 2027 and 2028 using imported and domestically produced cells. More than 3.5 GW of its 2027 capacity is now contracted.
T1 believes it could sell out its entire 5 GW G1_Dallas capacity in 2027, supported by customer discussions and an order pipeline exceeding remaining capacity. Actual sales depend on securing additional contracts and sustained demand.
Nordic Data Center Opportunity
T1 signed a non-binding letter of intent with a potential partner to explore converting its Nordic Giga Arctic facility into a data center. The project follows a 50 MW grid allocation from Norway’s Statnett and local rezoning approval.
Under the proposed arrangement, T1 would contribute the facility and power allocation, while the partner would fund construction and secure a tenant or computing customer. Completion remains subject to definitive agreements.
Updated Production Guidance
T1 raised its 2026 G1_Dallas production outlook to 4.0–4.2 GW from 3.1–4.2 GW previously, supported by contracted Q4 demand and imported cell availability.
For 2027, the company targets 5.3 GW of production, assuming full capacity utilization. More than 3.5 GW is already contracted, with additional customer demand exceeding available capacity.
TE Stock Price Activity: T1 Energy shares were down 11.27% at $1.89 during premarket trading on Thursday.
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