Trina Solar, a Chinese solar module and cell manufacturer has completed the acquisition of Nclave Renewable S.L., a Spanish solar tracker system manufacturer.
The value of the deal has not been disclosed yet.
This is the first time that a Chinese solar company has acquired a solar tracker producer outside of its home market. The acquisition is expected to accelerate Trina Solar’s strategic transformation from a leading PV product supplier to a global smart PV solutions provider.
With the acquisition, Trina Solar’s latest TrinaPro smart PV solutions will directly incorporate Nclave’s tracker products and engineering designs, while Nclave’s leading-edge technologies will also be deeply integrated into Trina Solar’s smart solutions.
Nclave was founded by the Clavijo Family and later merged with the company MFV Solar in 2017 with financial support from Q-Growth Fund. Nclave is involved in the development, design, manufacturing, installation, and maintenance of fixed tilts and solar trackers with more than 2.5 GW projects developed worldwide. The company has over 12 years of experience in the sector. It currently has its headquarters in Madrid, commercial offices in five continents and manufacturing facilities in Navarra, Spain. Its design for core parts and structures has received multiple international patents.
Founded in 1997, Trina Solar is one of the first Chinese solar companies listed on the New York Stock Exchange. As of the end of 2017, Trina Solar’s total module shipments had exceeded 32GW, ranking first in the world.
In the newly released Mercom’s India Solar Market Leaderboard 2018 report, it was revealed that Trina Solar was the top module supplier to India in 2017. The report covers market share and shipment rankings across the Indian solar supply chain in 2017.
Image credit: By M.O. Stevens [CC BY-SA 3.0], from Wikimedia Commons
Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer