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Array Technologies to merge with Shoals in $1 billion solar deal
Original: New Mexico’s Array Technologies to merge with Shoals in $1 billion deal, combining solar suppliers
Albuquerque-based Array Technologies, a major maker of solar tracking systems, has agreed to merge with Shoals Technologies Group, a supplier of electrical balance-of-system components, in a deal valued at roughly $1 billion. The combination brings together two key suppliers to the US solar industry, and attention is focused on what the consolidation means for competition, pricing and the wider clean-energy supply chain.
Why now: Major consolidation in the solar supply sector with a roughly $1 billion deal value is drawing industry and investor attention.
Array TechnologiesShoals Technologies GroupNew Mexico
Evidence
- New Mexico’s Array Technologies to merge with Shoals in $1 billion deal, combining solar suppliers · Albuquerque Journal
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