Nextracker, a leading solar technology platform provider, has officially announced the acquisition of U.S.-based Bentek Corporation, an industry pioneer and manufacturer of electrical infrastructure used in all types of solar power plants.
Under the agreed terms, Nextracker will pay out $78 million in an all-cash transaction, while simultaneously including future contingent earnout consideration. More on that would reveal how the acquisition effectively combines Bentek’s engineered, pre-assembled eBOS solutions with Nextracker’s world class solar tracker platform to provide customers streamlined procurement and project logistics from a single source.
The eventual eBOS products will be offered as standalone, industry-compatible components for both trackers and fixed tilt systems, as well as in formats optimized for use in integrated NX Horizon™ system solutions.
“It is fantastic to join forces with Bentek, expanding the Nextracker platform with exceptional eBOS products and expertise,” said Howard Wenger, President of Nextracker. “Together, we can offer fully engineered, integrated solutions that can help accelerate procurement and construction timelines and reduce installed cost, all backed by the trusted Nextracker brand. We believe that an integrated design approach can unlock synergies between the mechanical and electrical subsystems, driving enhanced customer value and creating a new and powerful solar power plant platform business model.”
Markedly enough, Bentek’s U.S. fabrication footprint further treads up a long distance to enhance Nextracker’s strong domestic supply chain position, and therefore, build upon the latter’s strategy of incorporating complementary technologies into the company’s market-leading tracker platform. This Nextracker will do to accelerate solar power plant construction, increase performance, and enhance long-term reliability.
In case you weren’t aware, the stated eBOS technology packs together electrical infrastructure used in all utility-scale solar projects to collect and transport electricity from solar panels to power conditioning systems throughout the entire solar field.
Another detail worth a mention is rooted in the fact that Bentek’s industry-proven eBOS solutions meet the most stringent North American safety standards. You see, already adopted by top solar engineering procurement construction companies (EPCs) and developer owners, these solutions will provide flexible options for maximum installation efficiency, safety, and reliability.
“Today is an exciting day for Nextracker and for U.S. solar manufacturing,” said Dan Shugar, founder and CEO of Nextracker. “In utility-scale solar, eBOS quality and reliability are critical to system uptime and long-term ROI. Bentek is a proven eBOS innovator and pioneer with several families of IP and issued patents. Nextracker’s financial resources, technology acumen, and supply chain expertise will enable Bentek to rapidly scale,”
Talk about Bentek’s eBOS technology on a slightly deeper level, we begin from its promise to support trunk bus solutions that bank upon electrical DC collection strategy, which combines PV harnessing and insulation piercing connector (IPC) technology to connect panels to inverters. Apart from it, the solution effectively consolidates wiring within the tracker rows and routes power directly to inverters, lowering field labor costs, improving reliability, and reducing maintenance over the life of the system.
Next up, the technology also plays a big role in delivering combiner box solutions that infuse PV harnessing through a pre-designed and manufactured combiner box to connect panels to inverters. Generally mounted on the tracker rows to implement solar panel strings in the field and deliver power to inverters, this approach makes for a plug-and-play solution boasting enhanced flexibility and serviceability benefits.
On top of it, Bentek’s eBOS portfolio also includes configurable harness solutions. Here, both string and over-mold harnesses connect multiple PV strings in parallel for reliable, plug-and-play DC aggregation. These solutions basically feature factory-manufactured over-molded fuses and joints, thus enabling configurations for a broad range of cable sizes and connector types.
“SOLV is thrilled that Nextracker has entered eBOS manufacturing; we have been encouraging them to make this move to bring their operational excellence and financial strength to electrical products supporting solar power plants,” said George Hershman, CEO of SOLV Energy. “Bentek was a great choice for Nextracker; SOLV has been using their reliable and high-quality products for many years and is a current customer.”
