Innovative Agrivoltaic project will be first of its kind in
Botswana, part of BUAN
University
AUSTIN, Texas, Nov. 4, 2021 /PRNewswire/ -- FTC Solar, Inc.
(Nasdaq: FTCI), a fast-growing global provider of solar tracker
systems, software and engineering services, today announced that it
has been awarded its first project in Africa since entering this new market earlier
this year.
"We're pleased to announce the first of what we expect will be
many projects in Africa for FTC
Solar," said Ali Mortazavi, FTC
Solar's head of Sales and Marketing. "This exciting FTC Solar
opportunity represents our initial project on the continent and our
first with Soventix, a strong global EPC company with a growing
pipeline. The project, on the beautiful Botswana University of Agriculture and Natural
Resources (BUAN) campus, will provide clean solar power for
teachers and students working to advance the sciences and local
quality of life."
The project will use FTC Solar's latest Voyager+ tracker
solution, which offers all the advantages of FTC's
two-panel-in-portrait design, including industry-leading
installation speeds, high slope tolerance, reduced part count and
DC collections advantage, while being optimized for the industry's
new large format solar modules. The circa one-megawatt (1MW)
project has been developed by AAAS Energy in conjunction with BUAN,
with the last mile development and EPC works being undertaken by
Soventix, South Africa (Pty)
Ltd.
The stated long-term goals of the agrivoltaic plant are to find
sustainable solutions for climate resilient practices, associated
with the concept of growing crops in the harsh African climate,
while mitigating risks associated with agriculture by generating
power that can be sold to create a constant revenue stream. The
power produced will be cheaper and support research and data
collection with regards to the agrivoltaic concept. The project is
expected to begin generating power in early 2022.
This first FTC Solar project represents a meaningful
opportunity. The African solar market is expected to install more
than 100 gigawatts of solar capacity by 2030, according to a
September 2021 Wood Mackenzie
report.
Soventix Managing Director for Southern Africa Jean-Paul de Villers said, "We are looking
forward to working with FTC Solar on this project that features a
strong environmental and social component, that specifically
supports the university and their research in addressing two of the
greatest concerns on the African continent; food security and
energy. FTC Solar's differentiated tracker solution and
customer-focused approach is a perfect fit for this
project."
About FTC Solar Inc.
Founded in 2017 by a group of
renewable energy industry veterans, FTC Solar is a fast-growing,
global provider of solar tracker systems, technology, software, and
engineering services. Solar trackers significantly increase energy
production at solar power installations by dynamically optimizing
solar panel orientation to the sun. FTC Solar's innovative tracker
designs provide compelling performance and reliability, with an
industry-leading installation cost-per-watt advantage.
Forward-Looking Statements
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future events, as actual results may differ materially
from those in the forward-looking statements because of
several factors, including those described in more detail in our
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the section entitled "Risk Factors" contained therein. FTC Solar
undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new
information, future events or changes in its expectations, except
as required by law.
FTC Solar Marketing Contact:
Amber Schranz
Global Marketing Manager
FTC Solar
E: PR@FTCSolar.com
FTC Solar Investor Contact:
Bill Michalek
Vice President, Investor Relations
FTC Solar
T: (737) 241-8618
E: IR@FTCSolar.com