US solar tracker supplier Array Technologies is to acquire Spanish tracker manufacturer Soluciones Técnicas Integrales Norland (STI Norland) in an acquisition that Array said will create “the largest tracker company in the world”.
Under the deal, Array will buy STI Norland for roughly €570 million (US$652 million) in cash (€351 million/US$401 million) and stock, with the transaction expected to close in Q1 2022.
It comes at the same time as Array reported a larger than expected Q3 loss in its most recent financial results.
