Nextracker, a solar tracker and software solutions provider, has announced the acquisition of Bentek Corporation, a provider of electrical balance of system (eBOS) solutions. This all-cash acquisition is valued at approximately $78 million, including future contingent earnout.
The eBOS technology components comprise the electrical infrastructure used in all utility-scale solar projects, which collects and transports electricity from solar panels to power conditioning systems.
“Today is an exciting day for Nextracker and U.S. solar manufacturing. In utility-scale solar, eBOS quality and reliability are critical to system uptime and long-term ROI. Bentek is a proven eBOS innovator and pioneer with several families of IP and issued patents. Nextracker’s financial resources, technology acumen, and supply chain expertise will enable Bentek to rapidly scale,” said Dan Shugar, founder and CEO of Nextracker.
The acquisition is expected to merge Bentek’s eBOS solutions with Nextracker’s solar tracker platform. The eBOS products will be offered as standalone, industry-compatible components for both trackers and fixed tilt systems, expanding Nextracker’s tracker platform to accelerate solar power plant construction, increase performance, and enhance long-term reliability.
“We believe that an integrated design approach can unlock synergies between the mechanical and electrical subsystems, driving enhanced customer value and creating a new and powerful solar power plant platform business model,” said Howard Wenger, President of Nextracker.
In 2024, Nextracker acquired Ojjo, a company specializing in foundation technology and services used in utility-scale ground-mount applications, in an all-cash transaction valued at approximately $119 million.
According to Mercom’s recently released Q1 2025 Solar Funding and M&A report, 19 solar corporate M&A transactions were recorded in Q1 2025, compared to 20 transactions in Q4 2024, and 10% lower than the 21 solar M&A transactions recorded in Q1 2024.
In March, Wang & Lee Group (WLG), a sustainable technology solutions provider specializing in energy storage systems and smart infrastructure, announced its acquisition of SolarHK, a solar energy company, through an allotment of shares valued at approximately HK$15 million (~$1.9 million).
