Array Technologies to Supply Solar Trackers for Over 750 MWdc Solar Project in Ohio

Rhea-AI Summary

Array Technologies, Inc. (NASDAQ: ARRY) has secured a contract to supply its DuraTrack® solar trackers for a major renewable energy project in Ohio, with a capacity exceeding 750 megawatts (MWdc). The project, spanning nearly 4,500 acres, includes over 1.4 million solar modules and will generate sufficient clean energy to power 116,000 homes annually. This initiative reinforces Array's leadership in the solar industry and is expected to create construction jobs and boost local economic development, with operations slated for 2024.

Positive

• Secured contract for a 750 MWdc solar project, enhancing market presence.
• Expected to generate significant clean energy for 116,000 homes annually.
• Project creation of hundreds of construction jobs, boosting local economy.

Negative

• None.

• Array DuraTrack® solar trackers to be installed at one of the largest solar energy projects in the U.S.
• Project raises Array’s profile in growing Midwest U.S. market and solidifies its global leadership position as a renewable energy solutions partner
• Array’s domestic and agile supply chain facilitates on-time deliveries and project schedules
  

ALBUQUERQUE, N.M., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (“Array”) (NASDAQ: ARRY), one of the world’s largest providers of utility-scale solar tracking technology, has been awarded a contract to supply its DuraTrack® solar trackers for EDF Renewables North America, one of the largest renewable energy developers in North America.

Array will supply its DuraTrack® solar trackers to an over 750 megawatt (MWdc) Ohio project on nearly 4,500 acres of land. The project will be equipped with over 1.4 million modules across more than 13,000 tracker rows. The project is expected to be one of the largest U.S. solar projects and capable of producing enough clean energy to power 116,000 average Ohio homes a year.

“By winning this project, Array is further solidifying its position as a leader in the utility-scale solar industry and demonstrating our ability to consistently deliver quality products on time for our customers,” said Kevin Hostetler, CEO of Array Technologies. “This project is a win-win-win for the county in Ohio, delivering clean energy into the local power grid, providing hundreds of new construction jobs, and generating a revenue stream from the lease agreements and tax revenue all while boosting economic development in the area and serving as a STEM resource for students interested in science, sustainability and environmental learning.”

EDF Renewables North America Vice President of Solar & Storage Strategic Procurement, Art Del Rio, stated, “This supply agreement is the latest between EDF Renewables and Array. The strength of this deeply established partnership with Array and EDF Renewables continues to grow with the execution of another tracker supply agreement for leading technology.”

The project is expected to be operational in 2024, with Array initiating tracker deliveries in January 2023. The project’s engineering, procurement and construction is being overseen by Blattner Energy, a member of the Quanta Services family. Blattner is a diversified renewable energy engineering contractor providing leading expertise and collaborative construction solutions nationwide. The project is being developed by independent power producer EDF Renewables.

About Array Technologies, Inc.
Array Technologies (NASDAQ: ARRY) is a leading American company and global provider of utility-scale solar tracker technology. Engineered to withstand the harshest conditions on the planet, Array’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, Array relies on its diversified global supply chain and customer-centric approach to deliver, commission, and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on Array, please visit arraytechinc.com.

Forward Looking Statements

This press release contains forward looking statements. These statements are not historical facts but rather are based on Array’s current expectations and projections regarding its business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors.

Media Contact: 
Steve Brecken 
823-285-4620 
steve.brecken@hkstrategies.com     

Investor Relations Contact: 
505-437-0010 
investors@arraytechinc.com 

FAQ

What is the significance of the Array Technologies contract announced on November 7, 2022?

The contract is significant as it positions Array Technologies as a key supplier for one of the largest solar energy projects in the U.S., enhancing its market presence.

How much energy will the Ohio solar project generate?

The Ohio solar project is expected to generate enough clean energy to power 116,000 average Ohio homes annually.

When is the Ohio solar project expected to be operational?

The Ohio solar project is expected to become operational in 2024.

What type of technology will Array provide for the Ohio project?

Array will supply its DuraTrack® solar trackers for the Ohio solar project.

How will the Ohio solar project impact local employment?

The project is expected to create hundreds of new construction jobs, boosting the local economy.