PVTIME - Lightsource bp has entered into a purchase agreement with Array Technologies (NASDAQ:ARRY) that will supply Lightsource bp’s newly developed solar portfolio of 1.4GW across the world with DuraTrack® HZ v3 single-axis solar trackers equipped with plant optimizing SmarTrack™ technology.
Once constructed and connected, this newly added solar capacity will generate enough combined renewable electricity to power over 266,000 households.
Lightsource bp, a global leader in development and management of solar energy projects, expects the agreement to supply and optimize this portfolio of solar power generation projects across growing energy markets worldwide, including the United States, Australia, and Spain.
DuraTrack HZ v3 is a market-leading utility-scale solar tracker that offers over 7% lower lifetime costs for asset owners, as well as 31% lower lifetime operations and maintenance costs than competitive, decentralized trackers. SmarTrack is an advanced machine-learning software platform that boosts energy production and revenues for utility-scale solar sites by up to 5% by rapidly and securely optimizing backtracking and diffuse light strategies.
This agreement builds on a previous deal between Lightsource bp and Array Technologies reached in December of 2019, an agreement of over $100M USD for 1.5GW of projects across the U.S.
“As we continue to grow and progress our 16GW development pipeline, executing global procurement deals with world class suppliers like Array Technologies enables us to leverage the efficiencies of our scale. This approach further optimizes our projects and translates into competitively priced electricity for our customers. Our agreement with Array Technologies demonstrates the quality of partnerships Lightsource bp invests in,” said Nick Boyle, Group CEO for Lightsource bp.
“Array’s ongoing collaboration with Lightsource bp has given us insight into how efficiently they prepare and plan,” said Jim Fusaro, CEO for Array Technologies. “Their management team takes the long view on solar and invests at scale in proven technology – to deliver low energy costs for their clients over the full lifetime of a solar project. This customer-centric approach, with a focus on lowering long-term operations expenses, is exactly how we deal with our clients.”