Nextracker (NASDAQ: NXT), a Fremont, CA-based provider of intelligent solar tracker and software solutions, acquired Ojjo, an energy company specializing in foundation technology and services used in utility-scale ground-mount applications for solar power generation, for approximately $119M.
Combining Nextracker’s smart solar tracker system with Ojjo’s foundation technology will enable engineering procurement construction companies (EPCs) and solar power plant developers to benefit from a more complete, integrated solution for various soil conditions when developing, designing, and installing their projects.
Led by Dan Shugar, founder and CEO, Nextracker is a provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed-generation solar projects around the world. Its products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. With an operating fleet in forty countries, Nextracker operates in the solar industry with solar tracker technologies that increase energy production while reducing costs for significant plant ROI.
Building on a multi-year relationship with Ojjo involving testing, evaluation, and collaboration on joint customer solar projects, adding Ojjo’s patented foundations portfolio will provide Nextracker customers with a holistic solar tracker and foundations systems solution. Ojjo technology and foundation solutions will be offered with Nextracker’s NX Horizon™ integrated solar tracker systems and advanced software solutions, and will also continue to be available to customers for use with other compatible solar trackers.
FinSMEs
21/06/2024