(NasdaqGM:ARRY),
ALBUQUERQUE, N.M., Aug. 05, 2025 (GLOBE NEWSWIRE) — ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology products, software and services, today announced it will supply trackers for a 200 megawatt (MWac) solar project that meet 100% of the domestic content Assigned Cost Percentage (ACP) under the U.S. Treasury Department's latest guidance (Notice 2025-08) issued in January 2025. The domestic content trackers will be supplied to the Emerald Green Solar project in Indiana, which is being developed by ENGIE North America (ENGIE).
“This milestone underscores ARRAY's commitment to American manufacturing and to helping our customers unlock the full value of tax credit incentives,” said Kevin G. Hostetler, chief executive officer at ARRAY. “Building on our 35-year legacy as an American manufacturer, ARRAY is proud to support reshoring of supply chains and job creation in the communities where we operate. ARRAY is a leader in delivering domestic content clean energy solutions that benefit our customers and the regions they serve.”
This project represents ARRAY's first full-site deployment of its 100% domestic content tracker solution, which enables developers to qualify for the maximum 28.7% ACP, which includes the 9.4% production ACP available exclusively for projects using trackers with only domestic content manufactured product components.
“ENGIE is thrilled that domestically produced solar trackers will be deployed at our Emerald Green Solar project in Howard County, Indiana. The ability to work with a U.S. manufacturer of qualified domestic content components for this 200 MWac project supports ENGIE's commitment to delivering local economic benefits in the states and communities where we operate as well as in the wider American economy,” said David Carroll, Chief Renewables Officer and Senior Vice President at ENGIE North America. “The fact that the steel used in ENGIE's largest energy project in Indiana will include torque tube and steel rolled locally in the state and installed by some of the more than 250 construction workers that will build the project really reflects the local nature of renewable energy production in the U.S.”
The project, located about an hour north of Indianapolis, Indiana, will be built entirely with domestic content ARRAY OmniTrack(TM) trackers. To validate full compliance with federal guidelines, ARRAY partnered with a third-party tax and advisory firm to analyze its manufacturing processes and supply chain.
Deliveries of the trackers are expected to begin in Q3 2025.
About ARRAY
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology to utility-scale and distributed generation customers who construct, develop, and operate solar PV sites. With solutions engineered to withstand the harshest weather conditions, ARRAY's high-quality solar trackers, software platforms and field services combine to maximize energy production and deliver value to our customers for the entire lifecycle of a project. Founded and headquartered in the United States, ARRAY is rooted in manufacturing and driven by technology – relying on its domestic manufacturing, diversified global supply chain, and customer-centric approach to design, deliver, commission, train, and support solar energy deployment around the world. For more news and information on ARRAY, please visit arraytechinc.com.
Forward Looking Statement
This press release contains forward-looking statements that are inherently speculative in nature and involve a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated or implied by such statements. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terms or words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions. These forward-looking statements are not historical facts but are based on the Company's current expectations, projections, and assumptions about its business, operations, and other factors. These statements are only predictions based on current expectations and, therefore, are not guarantees of future performance. The Company's forward-looking statements involve significant risks, uncertainties, and assumptions, including, without limitation, any increase in interest rates, or a reduction in the availability of tax equity or project debt capital in the global financial markets; unexpected changes or new policies and regulations related to the electric utility industry; the reduction, elimination or expiration, or our failure to optimize the benefits of government incentives; changes to laws and regulations, or the guidance thereto, including changes to tax laws and regulations, that are applied adversely to ARRAY or ENGIE; and significant changes in the cost of raw materials. These factors may hinder the Company's ability to meet its expectations and could lead to actual results materially differing from those stated. Additionally, disruptions to transportation and logistics, including increases in shipping costs; defects or performance problems in the Company's products; and the availability of in-demand components like high voltage breakers as well as various policies related to the permitting and interconnection costs of solar plants may impact the anticipated benefits of the project or the timing of those benefits. Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company's most recent Annual Report on Form 10-K, its most recent Quarterly Report on Form 10-Q, and its other documents on file with the SEC, which are available on ARRAY's website, www.arraytechinc.com. The Company assumes no obligation to update or revise any forward-looking statements, except as required by law, even if new information becomes available or future events occur that may materially alter the anticipated outcome.
Media Contact
Nicole Stewart
505-589-8257
nicole.stewart@arraytechinc.com
Investor Relations
Investor Relations
investors@arraytechinc.com
