Nextracker has acquired Ojjo for approximately $119 million. Ojjo is a U.S.-based renewable energy company specializing in foundation technology and services used in utility-scale ground-mount applications for solar power generation.
By merging the services, Nextracker hopes to offer solar EPCs and developers more choices for foundations that are designed to perform in various soil conditions. Ojjo foundations can be installed without pre-drilling land and potentially reduces subsurface risks of soalr isntallations.
“We are thrilled to welcome Ojjo to Nextracker,” said Dan Shugar, founder and CEO of Nextracker. “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. This acquisition furthers our successful global tracker foundation business with next-generation, differentiated technology.”
Ojjo technology and foundation solutions will be offered with Nextracker’s NX Horizon solar tracker systems and software solutions, and will also continue to be available to customers for use with other compatible solar trackers.
“I am proud of what the Ojjo team created. Nextracker is by far the best partner to drive this technology to its fullest potential in the utility-scale marketplace,” said Mike Miskovsky, outgoing Ojjo CEO, who will be providing transitional support to Nextracker into the next fiscal quarter.
With this acquisition, Nextracker now holds over 600 patents (issued and pending). The transaction closed today and is not expected to be material to fiscal 2025 results.
