ARRAY Technologies, a company that provides solar tracking technology products, software, and services for utility-scale solar energy projects, has upsized and extended its existing revolving credit facility from $166 million to $370 million.
The amended facility extends the maturity of the revolving credit facility by over two years, from October 14, 2028, to February 18, 2031. The amended facility includes up to $250 million available for the issuance of letters of credit.
According to the company, the facility enhances its liquidity profile and provides additional flexibility to support operational execution, working capital needs, and global growth initiatives.
Goldman Sachs Bank USA acted as lead arranger and is the administrative agent for the facility. Additional banks include joint lead arrangers J.P. Morgan, Wells Fargo Securities, PNC Capital Markets, and HSBC Bank USA, as well as participating lenders Royal Bank of Canada, BNP Paribas, Morgan Stanley Senior Funding, and Jefferies.
“Strengthening our capital structure and improving our funding access were core priorities for ARRAY, and the expansion of our revolving credit facility reflects recognition of our improving outlook and our commitment to disciplined financial management. The increase in capacity to $370 million—and welcoming three new lenders into our syndicate—demonstrates strong confidence in our strategy, our execution, and our position as one of the global leaders in utility-scale solar. This increased liquidity capacity enhances our ability to manage working capital efficiently, navigate dynamic market conditions, and support our growth initiatives. We appreciate the support of both our existing and new banking partners as we continue to execute.” H. Keith Jennings, Chief Financial Officer of ARRAY Technologies, said.
Last year, the company entered into a definitive agreement to acquire APA Solar, a provider of engineered foundation solutions and fixed-tilt mounting systems for solar projects.
In 2025, announced solar debt financing came to $16.1 billion, 14% lower compared to $18.8 billion in 2024. Securitization deals totaled $3.4 billion across nine deals, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report.
