Nextracker acquires Ojjo, expanding solar foundation business

June 20, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
Solar foundation firm Ojjo came up with a truss that works well for soils with cobbles or caliche among others, as well as bedrock. Image: Ojjo

PV tracker manufacturer Nextracker has acquired US-based solar foundation company Ojjo to expand its utility-scale solar foundations business.

The acquisition will be carried out in an all-cash transaction for nearly US$119 million. Nextracker said combining its solar tracker technology with Ojjo’s foundation technology will enable engineering procurement construction companies (EPCs) and solar power plant developers to benefit from a more complete, integrated solution for various soil conditions when developing, designing and installing their projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Ojjo’s technology will be offered alongside Nextracker’s NX Horizon solar tracker and software solutions.

The acquisition further accelerates the solar tracker manufacturer’s expansion which recently opened a second manufacturing line in the US state of Nevada in collaboration with industrial manufacturing services company Unimacts. The second tracker manufacturing line brings the total manufacturing capacity to 2GW, after opening the first facility in Las Vegas in September 2023.

The purchase price is subject to working capital and other customary purchase price adjustments and is not expected to be material to fiscal 2025 results.

Dan Shugar, founder and CEO of Nextracker, said: “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.

Ojjo came up with a solar foundation built as a truss, which looks similar to a reversed V shape, as shown in the picture above. PV Tech Premium spoke last year with Mike Miskovsky, chairman and CEO at Ojjo, about the company’s technology and its application in more complicated soil and shallow bedrock.

Furthermore, Nextracker published last month its financial results for the fiscal year 2024 – which runs until 31 March 2024 – and increased its backlog by more than 50%. Compared to the previous fiscal year, the backlog went from US$2.56 billion in FY23 to over US$4 billion in FY24.

16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 29, 2025
NextEra Energy Resources added 3GW of new renewable energy generation and storage capacity to its portfolio in the third quarter of 2025.
October 29, 2025
US solar manufacturer Corning has brought online its wafer production at its Michigan plant, during the third quarter of 2025.
October 27, 2025
Engie has signed additional PPAs with Meta, expanding their partnership to more than 1.3GW across four solar projects in Texas.
October 27, 2025
Waaree Energies has secured four solar module supply contracts totalling 692MW – three for projects in India and one in the US through its subsidiary.
October 27, 2025
Premier Energies has acquired a 51% stake each in transformer maker Transcon and inverter producer KSolare Energy. 
October 27, 2025
US solar technology company Swift Solar has deployed perovskite solar technology as part of a Department of Defence cyber warfare exercise in the state of Virginia.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany