T1 Energy Inc. released its preliminary financial and operating results for the second quarter of 2026, reporting higher module sales while advancing its U.S. solar manufacturing expansion and broadening its clean energy portfolio through strategic acquisitions.
The company expects total net sales of approximately $245 million to $255 million for Q2 2026, supported by solar module sales of around 835 MW. T1 anticipates a net loss from continuing operations of $34 million to $37 million and adjusted EBITDA between negative $14.5 million and negative $11.5 million, excluding approximately $24.4 million in tariff refunds related to the International Emergency Economic Powers Act (IEEPA).
As of June 30, 2026, the company reported cash, cash equivalents and restricted cash of $156.4 million, including $79.1 million in unrestricted cash.
During the quarter, T1 announced the acquisition of foundational solar patents and intellectual property from Evervolt Green Energy Holding Pte. Ltd. for $135 million, strengthening its technology portfolio in advanced photovoltaic solutions.
The company also monetised the remaining balance of its 2025 Section 45X advanced manufacturing tax credits, generating $39.1 million at a gross price of $0.93 per dollar, and said it has begun discussions with potential counterparties for the sale of tax credits earned during 2026.
T1 provided an update on construction of its G2_Austin solar cell manufacturing facility, where structural steel work has reached 80% completion. The company revised the project’s Phase 1 capital expenditure estimate to $510 million, up from the previous $425 million, citing higher labour and material costs in Texas. As a result, first solar cell production is now expected in Q1 2027, compared with the earlier target of before the end of 2026.
The company also raised expectations for production at its G1_Dallas module manufacturing facility, stating that output in the second half of 2026 is expected to exceed second-quarter levels. T1 now expects full-year production to reach the upper end of its previously announced 3.1 GW to 4.2 GW guidance range.
In July 2026, T1 completed its previously announced acquisition of KORE Power, Inc., establishing the T1 NRI brand to expand into the battery energy storage system (BESS) and AI data centre infrastructure markets. The company said the acquisition broadens its customer base and strengthens its integrated solar and energy storage offering.
T1 added that it continues to pursue a comprehensive financing package, including significant debt financing, to support the remaining capital expenditure required for the first phase of the G2_Austin manufacturing facility.
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