Nextracker announced during an annual earnings meeting that it acquired Solar Pile International (SPI), a manufacturer of proprietary ground mounts, for approximately $48 million on Wednesday. SPI produces a line of patented solar array foundations that drives a helical end into the ground using a rotating channel that moves independently from the exterior pile.
The pile series from Solar Pile International
This acquisition comes just over a month after Nextracker announced the purchase of Ojjo, another ground-mount manufacturer with a patented pile system.
“Our fiscal year is off to an excellent start with another quarter of strong execution, where healthy demand dynamics continued for solar trackers in both the U.S. and international markets,” said Dan Shugar, founder and CEO of Nextracker. “We also unveiled new product solutions, expanded several of our partner manufacturing facilities, and added foundations solutions with the acquisitions of Ojjo and Solar Pile International’s foundations business.”
Additionally, Nextracker expects to be producing 100% domestically-made tracker systems sometime in 2025, according to fiscal year reporting.
News item from Nextracker