Longi Joins Rivals in Pivot to Energy Storage as Solar Struggles

China’s Longi Green Energy Technology Co. plans to buy a majority stake in a local energy storage maker, joining its domestic rivals in seeking a new growth engine as the oversupplied solar sector struggles with losses.

The company aims to take a 62% share in PotisEdge, a lithium-ion battery maker, according to a filing on a government website. The statement did not give details on the size of deal.