- Slice of Energy
- Posts
- Nextracker Acquires Ojjo for $119 Million
Nextracker Acquires Ojjo for $119 Million
Slice of Energy Team
June 24, 2024
Key Highlights:
Nextracker acquires Ojjo for $119 million in an all-cash transaction.
Enhanced integrated solutions for challenging soil conditions.
Expands sustainable light-on-land solutions eliminating pre-drill and refusals.
Strengthens Nextracker's patented technology portfolio with over 600 patents.
Source (Business Wire)
Notable Quotes:
"We are thrilled to welcome Ojjo to Nextracker. This acquisition furthers our successful global tracker foundation business with next-generation, differentiated technology."
"I am proud of what the Ojjo team created. Nextracker is by far the best partner to drive this technology to its fullest potential in the utility-scale marketplace.”
Our Take:
The acquisition of Ojjo by Nextracker represents a strategic move to enhance their product offerings and expand their market reach, particularly in challenging soil conditions. This integration of Ojjo’s foundation technology with Nextracker’s solar tracker systems is likely to streamline project design and reduce risks for EPCs and solar developers. Furthermore, the increased portfolio of patents and the continuation of offering Ojjo's solutions with other compatible solar trackers demonstrate Nextracker’s commitment to innovation and customer satisfaction. This acquisition is set to create substantial value for both companies' customers through more comprehensive and cost-effective solar solutions.