US-based solar tracker manufacturer Nextracker Inc has acquired Hong Kong's Solar Pile International (SPI) for approximately USD 48 million (EUR 44.2 million).
The acquisition, disclosed during Nextracker's first-quarter financial results for fiscal year 2025, was completed on July 31.
SPI, which specializes in piling solutions for ground-mounted solar farms, provides technology suitable for challenging soil conditions, including soft, frost-heaved soils and shallow rock. The company has supported over 1,000 MW of solar projects across Australia and the United States between 2018 and 2023.
The acquisition follows Nextracker's recent purchase of solar foundations specialist Ojjo Inc for around USD 119 million.
Nextracker CEO Daniel Shugar emphasized that these acquisitions will enhance the company's ability to deploy solar panels in geologically challenging environments. Shugar noted that SPI's expertise addresses softer soil conditions, complementing Ojjo's solutions for hard rock sites.
