Lightsource bp announces a 1.4GW global purchase agreement with Array Technologies
November 10 2020 - 6:00AM
Lightsource bp has entered into a purchase agreement with Array
Technologies (NASDAQ:ARRY) that will supply Lightsource bp’s newly
developed solar portfolio of 1.4GW across the world with DuraTrack®
HZ v3 single-axis solar trackers equipped with plant optimizing
SmarTrack™ technology.
Once constructed and connected, this newly added solar capacity
will generate enough combined renewable electricity to power over
266,000 households.
Lightsource bp, a global leader in development and management of
solar energy projects, expects the agreement to supply and optimize
this portfolio of solar power generation projects across growing
energy markets worldwide, including the United States, Australia,
and Spain.
DuraTrack HZ v3 is a market-leading utility-scale solar tracker
that offers over 7% lower lifetime costs for asset owners, as well
as 31% lower lifetime operations and maintenance costs than
competitive, decentralized trackers. SmarTrack is an advanced
machine-learning software platform that boosts energy production
and revenues for utility-scale solar sites by up to 5% by rapidly
and securely optimizing backtracking and diffuse light
strategies.
This agreement builds on a previous deal between Lightsource bp
and Array Technologies reached in December of 2019, an agreement of
over $100M USD for 1.5GW of projects across the U.S.
“As we continue to grow and progress our 16GW development
pipeline, executing global procurement deals with world class
suppliers like Array Technologies enables us to leverage the
efficiencies of our scale. This approach further optimizes our
projects and translates into competitively priced electricity for
our customers. Our agreement with Array Technologies demonstrates
the quality of partnerships Lightsource bp invests in,” said Nick
Boyle, Group CEO for Lightsource bp.
“Array’s ongoing collaboration with Lightsource bp has given us
insight into how efficiently they prepare and plan,” said Jim
Fusaro, CEO for Array Technologies. “Their management team takes
the long view on solar and invests at scale in proven technology –
to deliver low energy costs for their clients over the full
lifetime of a solar project. This customer-centric approach, with a
focus on lowering long-term operations expenses, is exactly how we
deal with our clients.”
About Array Technologies,
Inc.Array Technologies is a leading global technology
company providing tracker solutions and services for utility-scale
solar energy projects as one of the world’s largest manufacturers
of ground-mounting systems. With efficient installation and terrain
flexibility coupled with high reliability, durability, and
performance, Array delivers a lower levelized cost of energy. The
Company’s focus on innovation, combined with its customer-centric
approach, has helped achieve some of the industry’s best returns.
Array Technologies is headquartered in the United States with
offices in Europe, Central America, and Australia. Contact us at
arraytechinc.com or view our LinkedIn page.
About
Lightsource
bpLightsource bp is a global leader in the
development and management of solar energy projects. They are a
50:50 joint venture with bp plc, working together to help drive the
world’s transition to low carbon energy through competitively
priced and sustainable electricity. With solar set to increase
tenfold in the next 20 years, Lightsource bp is well-positioned to
capitalize on this growth and enact real change on the global
energy landscape through responsible solar projects. The team is
comprised of 500 industry specialists, active across 13 countries –
providing a full-service to their customers from initial site
selection and permitting through to long-term management of
projects.
For more information visit lightsourcebp.com, follow us on
Twitter @lightsourceBP and Instagram @lightsourcebp, or view our
LinkedIn page.
Forward Looking Statements
This press release contains forward looking statements. These
statements are not historical facts but rather are based on the
Company’s current expectations and projections regarding its
business, operations and other factors relating thereto. Words such
as “may,” “will,” “could,” “would,” “should,” “anticipate,”
“predict,” “potential,” “continue,” “expects,” “intends,” “plans,”
“projects,” “believes,” “estimates” and similar expressions are
used to identify these forward looking statements. These statements
are only predictions and as such are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict. Actual results may differ materially from
those in the forward looking statements as a result of a number of
factors.
Media Contact:James McCusker,
203-585-4750jmccusker@soleburytrout.com
Investor Relations
Contact:505-437-0010investors@arraytechinc.com
Array Technologies (NASDAQ:ARRY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Array Technologies (NASDAQ:ARRY)
Historical Stock Chart
From Sep 2023 to Sep 2024