UPDATE -- Array Technologies announces a 1GW purchase agreement with RP Construction Services

Rhea-AI Summary

Array Technologies, Inc. (NASDAQ: ARRY) has partnered with RP Construction Services, Inc. to supply 1 GW of DuraTrack^® HZ v3 single-axis solar trackers. This agreement supports small and medium-sized solar projects in the U.S. and highlights the growth in the distributed generation market. CEO Jim Fusaro emphasized the significance of this partnership in enhancing Array's market presence, following another recent order of over 1 GW from Lightsource bp. RPCS CEO Eb Russell praised Array's products for their reliability and ease of installation.

Positive

• Partnership with RPCS expected to enhance Array's market presence in the distributed generation sector.
• Secured an order for 1 GW of solar trackers, indicating strong demand.
• Following another recent 1 GW order from Lightsource bp, showcasing Array's growing customer base.

Negative

• None.

Partnering with Leading Design-Build Contractor to Bring Advanced Solar Tracker Technology to the Distributed Generation Market

ALBUQUERQUE, N.M., Nov. 30, 2020 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (NASDAQ: ARRY) (“Array”) today announced it has entered into an agreement to supply 1GW of DuraTrack^® HZ v3 single-axis solar trackers to RP Construction Services, Inc. (“RPCS”). RPCS provides design-build services for small and medium-sized ground-mounted solar energy projects across the U.S. and is the leading contractor for solar energy projects under 25 MWs.

“The endorsement of the segment-leading contractor for distributed energy projects underscores both the strength of our product offering and the value our trackers can create for projects of all sizes. The small-utility, municipal, medium-sized commercial and community solar markets are growing rapidly, and collaborating with RPCS to address this segment of the market should further accelerate our growth in the U.S. I am also pleased that this order follows on the Lightsource bp purchase agreement announced earlier this month, making it the second order over 1 GW that we have received in the past 30 days,” said Jim Fusaro, Chief Executive Officer of Array.

“We are incredibly excited about expanding our relationship with Array. They have the best system in the marketplace in terms of ease of installation, reliability, and durability. We have more than tripled the size of our company with their products over the past three years, and we look forward to continuing that growth with this agreement,” said Eb Russell, Chief Executive Officer of RPCS.  

About Array Technologies, Inc.
Array Technologies is a leading global technology company providing tracker solutions and services for utility-scale solar energy projects as one of the world's largest manufacturers of ground-mounting systems. With efficient installation and terrain flexibility coupled with high reliability, durability, and performance, Array delivers a lower levelized cost of energy. The Company's focus on innovation, combined with its customer-centric approach, has helped achieve some of the industry's best returns. Array Technologies is headquartered in the United States with offices in Europe, Central America, and Australia. Contact us at arraytechinc.com or view our LinkedIn page.

About RPCS
RPCS provides turnkey design and installation services for ground-mounted solar energy projects in the U.S. with a focus on the distributed generation market. The Company has completed more than 700 projects, representing 2 GW of generation capacity, since 2015. RPCS combines a team-oriented culture that values all employees with innovative, tech-enabled work practices to deliver projects of all sizes on-spec and on-time. RPCS has approximately 250 employees and maintains offices in California, Mississippi and Texas. Connect with RPCS on LinkedIn or view our website at www.rpcs.com.

Forward Looking Statements
This press release contains forward looking statements. These statements are not historical facts but rather are based on the Company'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:
James McCusker, 203-585-4750
jmccusker@soleburytrout.com 

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

FAQ

What is the significance of Array Technologies' partnership with RP Construction Services?

The partnership allows Array Technologies to supply 1 GW of solar trackers, enhancing their footprint in the distributed generation market.

How does the recent order impact Array Technologies' growth in the market?

This order emphasizes the increasing demand for solar solutions and supports Array's expansion in small and medium solar projects.

What products are included in the agreement with RPCS?

The agreement includes the supply of DuraTrack^® HZ v3 single-axis solar trackers.

What recent order did Array Technologies receive before the RPCS deal?

Array Technologies recently received another order for over 1 GW from Lightsource bp, indicating strong market demand.