Net losses triple at US tracker maker after acquisition
New Mexico-based Array Technologies is keen to emphasize the revenue benefits of buying Spanish rival STI Norland and said US President Joe Biden’s Inflation Reduction Act would also be good for business.
Array Technologies acquires STI Norland for €570 million
The merging of both manufacturers could create a new world market leader. The transaction is expected to be finalized in the first quarter of 2022.
Nextracker the largest tracker provider in 2019
The ten largest solar tracker companies accounted for 88% of the market last year, according to analyst WoodMackenzie, with the market growing 20% from 2018.
Spanish bank acquires big stake in solar racking manufacturer
Banco Sabadell has acquired a 41.5% interest in Pamplona-based STI Norland through its Aurica Capita fund.
Rise of bifacial lifts profits for the world’s tracker companies
Things are hotting up in the tracker world as the desire to squeeze down the price per Watt of solar power intensifies. And the rise of the trackers is attracting some well-known businesses to buy their way into the field.
STI Norland chosen as tracker partner for 36.7 MW Brazil solar farm
The Spanish tracker and mounting specialist will supply 202 of its STI H1250 trackers to the Assú V solar park in Brazil’s Rio Grande do Norte.
