New $50+ million facility will grow production to over 300 jobs and strengthen energy security
ALBUQUERQUE, N.M., April 26, 2024 (GLOBE NEWSWIRE) — U.S. Secretary of Energy Jennifer Granholm, U.S. Senators Martin Heinrich and Ben Ray Luján, Albuquerque Mayor Tim Keller, and Bernalillo County Commission Chair Barbara Baca joined today with Array Technologies (NASDAQ: ARRY) to announce the groundbreaking of a new $50+ million manufacturing campus in Bernalillo County, New Mexico. The facility marks a significant investment in the region’s clean energy future and underscores Array’s commitment to fostering job growth and bolstering the domestic supply chain.
“Array’s new manufacturing facility will create good-paying jobs in New Mexico, strengthen the domestic solar supply chain, and ultimately help us achieve greater American energy independence,” said Kevin G. Hostetler, chief executive officer of Array Technologies. “This is a perfect example of government entities working together at all levels to promote pro-growth policies that create American jobs and support local businesses. With federal action like the Inflation Reduction Act and the support of state and local officials, Array is proud to be at the forefront of the solar energy boom.”
Array, one of New Mexico’s few publicly traded companies, is a global leader in utility-scale solar tracking technology that maximize the efficiency of solar panels by moving them to optimize the sun’s angle. Founded in Albuquerque over 30 years ago, Array is the original American solar manufacturing success story. Array has led the way on sustainability through its use of a traceable American supply chain and low-carbon American steel. The decision to expand operations in Albuquerque comes as part of Array’s long-standing relationship with the community.
“New Mexico Democrats have delivered an American manufacturing renaissance thanks to historic legislation like the Inflation Reduction Act. Array Technologies’ newest manufacturing facility is the latest proof of that — creating new careers New Mexicans can build their families around, producing new technologies that will lower costs for working families, and further solidifying our state at the center of the nation’s clean energy future,” said U.S. Senator Martin Heinrich (D-N.M.).
The Inflation Reduction Act’s production tax credit made this investment possible, which will bring new manufacturing careers to the community and boost American energy independence. The new 216,000-square-foot campus, located on Albuquerque’s west side, will employ over 300 residents in the near term to facilitate the production, assembly, design, engineering, and customer service of solar tracking technology.
“Manufacturing in New Mexico and across the U.S. is on the rise thanks to the Biden-Harris administration and the Inflation Reduction Act that I was proud to support in Congress. I’m glad to have Secretary Granholm back in New Mexico to break ground on Array’s new manufacturing facility which will drive innovation and create new opportunities for folks here at home,” said U.S. Senator Ben Ray Luján (D-N.M.). “Through the Inflation Reduction Act and state and local investments, this new facility will grow the economy and keep New Mexico at the forefront of clean energy.”
In addition to the Inflation Reduction Act’s tax credits, Array’s expansion is also made possible in part by $2.5 million in economic assistance from the Local Economic Development Act (LEDA) job-creation fund, awarded by the state. Additional support from the City of Albuquerque and Bernalillo County includes $250,000 each of LEDA funds and partial property-tax abatement through an Industrial Revenue Bond. Between capital investments and job creation, the expansion project is expected to have an economic impact of more than $300 million over 10 years.
“Albuquerque is a hub for the green economy, and we will keep pushing to create a more sustainable future for our families,” said Mayor Tim Keller. “This expansion delivers direct, positive economic impact to our community, bringing jobs and opportunities to our residents as we create a brighter future, together.”
“When we as a commission look at supporting businesses with tax exemptions or LEDA funds, we must consider job growth, job retention and the impact it will have on our community. What Array Technologies is doing here is a good example of that and we are proud to work collaboratively with the city and the state to support their mission,” said Bernalillo County Commission Chair Barbara Baca.
“This announcement from Array is an example of how smart federal policies can directly benefit states and localities with jobs and economic growth,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA). “Investments in domestic solar manufacturing like this one are critical for strengthening our nation’s energy security and ensuring our energy future puts people and communities first.”
At a groundbreaking ceremony at the current Array Albuquerque manufacturing facility on Friday, April 26, 2024, officials toured the facility and highlighted how the expansion marks a significant milestone in Array’s mission to drive forward the renewable energy industry and contribute to a sustainable future for generations to come. Photos, b-roll, and more information are available here.
For more information about Array Technologies, visit www.arraytechinc.com.
About Array
Array Technologies (NASDAQ: ARRY) is a leading global renewable energy company and provider of utility-scale solar tracking technology. Engineered to withstand the harshest conditions on the planet, Array’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, Array relies on its diversified global supply chain and customer-centric approach to deliver, commission, and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on Array, please visit arraytechinc.com.
Forward Looking Statement
This press release contains forward-looking statements, and these statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations, and other factors relating there to. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors.
Media Contact
Nicole Stewart
480-208-0794
nicole.stewart@arraytechinc.com
Investor Relations Contact
Array Technologies, Inc.
Investor Relations
investors@arraytechinc.com
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