FTC Solar Announces Multi-Year Tracker Supply Agreement with Strata Clean Energy
FTC Solar, Inc. (Nasdaq: FTCI) has secured a multi-year tracker supply agreement with Strata Clean Energy. The deal involves supplying approximately 500 megawatts of FTC's Voyager 2P solar tracker technology for multiple U.S. project sites. FTC Solar will be Strata's preferred 2P solar tracker supplier over an initial three-year term, with potential expansion to over a gigawatt of volume. The agreement includes the use of FTC's SunPath software to enhance output and performance. Strata's CEO praised FTC's trackers for their ease of installation, adaptability, and quality. The first project under this agreement is expected to begin in Q4 2024.
FTC Solar, Inc. (Nasdaq: FTCI) ha stipulato un contratto di fornitura di inseguitori pluriennale con Strata Clean Energy. L'accordo prevede la fornitura di circa 500 megawatt della tecnologia per inseguitori solari Voyager 2P di FTC per diversi siti di progetto negli Stati Uniti. FTC Solar sarà il fornitore preferito di inseguitori solari 2P per Strata per un periodo iniziale di tre anni, con una potenziale espansione a oltre un gigawatt di volume. L'accordo include l'uso del software SunPath di FTC per migliorare l'output e le performance. Il CEO di Strata ha elogiato gli inseguitori di FTC per la loro facilità di installazione, adattabilità e qualità. Si prevede che il primo progetto sotto questo accordo inizi nel Q4 2024.
FTC Solar, Inc. (Nasdaq: FTCI) ha asegurado un acuerdo de suministro de rastreadores por varios años con Strata Clean Energy. El acuerdo implica el suministro de aproximadamente 500 megavatios de la tecnología de rastreadores solares Voyager 2P de FTC para múltiples sitios de proyectos en EE. UU. FTC Solar será el proveedor preferido de rastreadores solares 2P para Strata durante un período inicial de tres años, con una posible expansión a más de un gigavatio de volumen. El acuerdo incluye el uso del software SunPath de FTC para mejorar la producción y el rendimiento. El CEO de Strata elogió los rastreadores de FTC por su facilidad de instalación, adaptabilidad y calidad. Se espera que el primer proyecto bajo este acuerdo comience en Q4 2024.
FTC Solar, Inc. (Nasdaq: FTCI)는 Strata Clean Energy와 다년간의 추적기 공급 계약을 체결했습니다. 이 계약은 미국 여러 프로젝트 사이트에 FTC의 Voyager 2P 태양광 추적기 기술 약 500 메가와트를 공급하는 내용을 포함합니다. FTC Solar는 초기 3년 기간 동안 Strata의 선호하는 2P 태양광 추적기 공급업체가 되며, 1기가와트의 물량으로 확장할 가능성도 있습니다. 이 계약에는 출력 및 성능 향상을 위한 FTC의 SunPath 소프트웨어 사용이 포함됩니다. Strata의 CEO는 설치 용이성, 적응성 및 품질로 FTC의 추적기를 칭찬했습니다. 이 계약에 따른 첫 번째 프로젝트는 2024년 4분기에 시작될 것으로 예상됩니다.
FTC Solar, Inc. (Nasdaq: FTCI) a conclu un contrat d'approvisionnement de trackers sur plusieurs années avec Strata Clean Energy. Cet accord concerne la fourniture d'environ 500 mégawatts de la technologie de trackers solaires Voyager 2P de FTC pour plusieurs sites de projets aux États-Unis. FTC Solar sera le fournisseur préféré de trackers solaires 2P pour Strata pendant une durée initiale de trois ans, avec une possibilité d'expansion à plus d'un gigawatt de volume. L'accord inclut l'utilisation du logiciel SunPath de FTC pour améliorer la production et la performance. Le PDG de Strata a loué les trackers de FTC pour leur facilité d'installation, leur adaptabilité et leur qualité. Le premier projet dans le cadre de cet accord devrait commencer au Q4 2024.
FTC Solar, Inc. (Nasdaq: FTCI) hat einen mehrjährigen Liefervertrag für Tracker mit Strata Clean Energy abgeschlossen. Der Vertrag beinhaltet die Lieferung von etwa 500 Megawatt der Solar-Tracker-Technologie Voyager 2P von FTC für mehrere Projektstandorte in den USA. FTC Solar wird über einen anfänglichen Zeitraum von drei Jahren Stratas bevorzugter 2P-Solar-Tracker-Lieferant sein, mit der Möglichkeit einer Erweiterung auf über ein Gigawatt Volumen. Der Vertrag umfasst die Nutzung der SunPath-Software von FTC zur Verbesserung von Ausgabe und Leistung. Der CEO von Strata lobte die Tracker von FTC für ihre einfache Installation, Anpassungsfähigkeit und Qualität. Das erste Projekt im Rahmen dieses Vertrags wird voraussichtlich im Q4 2024 beginnen.
- Secured multi-year supply agreement with Strata Clean Energy
- Initial deal for approximately 500 megawatts of solar tracker technology
- Potential expansion to over 1 gigawatt of volume
- Inclusion of SunPath software in the agreement for enhanced performance
- First project under the agreement set to begin in Q4 2024
- None.
Insights
This multi-year agreement with Strata Clean Energy is a significant win for FTC Solar. The initial 500 MW commitment, with potential expansion to over 1 GW, represents a substantial revenue stream for the company. While specific financial terms weren't disclosed, this deal could boost FTC's market share in the competitive solar tracker industry. The partnership also validates FTC's technology, potentially attracting more customers. However, investors should note that the first project isn't expected until Q4 2024, meaning immediate financial impact will be . Long-term, this agreement strengthens FTC's position in the growing renewable energy sector, but execution and market conditions will be important to realizing its full potential.
FTC Solar's Voyager 2P tracker technology, combined with their SunPath software, offers a compelling technical package. The 2P (2-in-portrait) design can increase energy yield compared to traditional 1P systems, especially in certain terrains. The inclusion of SunPath software is particularly noteworthy, as it can optimize panel positioning throughout the day, potentially boosting energy production by 5-8%. This software integration gives FTC a competitive edge. Strata's CEO praising the tracker's ease of installation suggests potential cost savings in project deployment. However, as with any tech in this sector, it's important to monitor for any performance issues or maintenance challenges that may arise over the long term.
This deal signals growing momentum in the U.S. solar market, particularly for utility-scale projects. The multi-year nature of the agreement suggests confidence in sustained demand for solar installations. FTC Solar's selection as a preferred supplier by a major player like Strata could improve its market positioning against competitors such as Array Technologies and Nextracker. The solar tracker market is projected to grow at a CAGR of over 15% through 2028, driven by increasing solar adoption and the need for efficiency improvements. This agreement puts FTC Solar in a strong position to capitalize on this growth. However, investors should be aware of potential headwinds such as supply chain disruptions or changes in government incentives that could impact the broader solar industry.
AUSTIN, Texas, Sept. 10, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, software, and engineering services, announced today that it has been selected by Strata Clean Energy (Strata) to supply approximately 500 megawatts of its Voyager 2P solar tracker technology for multiple project sites in the U.S. and will be the preferred 2P solar tracker supplier over a three-year initial term, which could expand to over a gigawatt of volume. Strata is expected to utilize a combination of FTC Solar’s tracker solutions for the sites, along with FTC’s innovative SunPath software to further enhance output and performance.
“FTC certainly has one of the fastest and easiest trackers to install, yet it’s fully adaptable and high quality,” said Markus Wilhelm, Chief Executive Officer of Strata Clean Energy. “With impressive trackers and software, and a noticeably differentiated approach to customer service and support, we are pleased to continue to expand our relationship with FTC Solar.”
"We are honored to be selected by Strata, a solar development, EPC, and O&M leader, to further strengthen our relationship with a multi-year agreement,” commented Yann Brandt, FTC Solar’s President and Chief Executive Officer. “FTC has differentiated and value-enhancing trackers and will go above and beyond for customers, enabling solar projects to be installed safely and quickly. We look forward to demonstrating our full capabilities to help make each project a resounding success for Strata.”
The first project under this three-year agreement is expected to begin in the fourth quarter of 2024.
About Strata Clean Energy
Strata Clean Energy and its affiliates are a vertically integrated company specializing in solar and storage development, engineering, procurement, and construction (EPC), as well as operations and maintenance (O&M). With over 170 projects in operation, more than 8 GW of solar and 31 GWh of storage in development, and 4.2 GW under management nationwide, Strata leads the clean energy sector. The Company has a strong presence in the Western U.S., with offices in Denver and Scottsdale.
About FTC Solar Inc.
Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a leading provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.
FTC Solar Investor Contact:
Bill Michalek
Vice President, Investor Relations
FTC Solar
T: (737) 241-8618
E: IR@FTCSolar.com
Forward-Looking Statements
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FAQ
What is the size of the solar tracker supply agreement between FTC Solar and Strata Clean Energy?
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What additional technology is FTC Solar (FTCI) providing to Strata Clean Energy as part of the agreement?
How long is the initial term of the supply agreement between FTC Solar (FTCI) and Strata Clean Energy?
