Nextracker has acquired Ojjo for $119 million, paying all-cash for the renewable energy company specializing in foundation technology and services used in utility-scale solar ground-mount applications.
Nextracker hopes to combine its tracker system with Ojjo’s foundation technology to offer EPCs and solar power plant developers to benefit from a solution for various soil conditions when developing, designing and installing their projects.
“We are thrilled to welcome Ojjo to Nextracker,” says Dan Shugar, founder and CEO of Nextracker.
“Our customers greatly value proven integrated solutions to improve project design, simplify procurement and reduce risk for their projects. This partnership builds on our successful product collaboration with Ojjo. Their team brings geotechnical products and expertise in foundation systems that are especially well-suited to rocky sites, with control system intellectual property that is broadly applicable to a range of equipment. This acquisition furthers our successful global tracker foundation business with next-generation, differentiated technology.”
The transaction closed this month, and is not expected to be material to fiscal 2025 results.
The post Nextracker Acquires Ojjo, Expanding Foundations Business appeared first on Solar Industry.
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When I argue for environmental responsibility and the decarbonization of the grid, I often say:
I know there are people who believe, perhaps because this is what they’re told by Donald Trump, that climate change is a hoax. But are there people who don’t believe in cancer? In the importance of our country’s investing in the industry that is destined the dominate the 21st Century?
Trump will be gone soon. Maybe you and I will be gone (in a different sense) before the effects of this administration’s folly in the EV and cleantech industry are fully felt.
But it’s inevitable, unless we turn this around, and soon.
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