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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