Tracker mergers on the march: Clavijo and MFV Solar to form NCLAVE

Grupo Clavijo and MFV Solar have reached a merger agreement to form NCLAVE, with the financial support of Q-Growth Fund, to become “the world leader in the design, manufacture and installation of structures and trackers for the solar photovoltaic market,” the companies say.

March 1, 2017 Charles W. Thurston

The tie-up is another example of the global verticalization of the PV tracker industry, especially between tracker companies and their manufacturing partners. NEXT and Sun Action are earlier examples of the trend, which is characterized by reduced costs and the accelerated globalization of the tracker technology.

“The merger with MFV Solar is a strategic step that strengthens our companies’ international standing in the structures and solar trackers sector. Furthermore, with the support of Q-Growth, we are taking a major step towards making the most advanced solar tracking technology available to developers, EPC contractors and installers worldwide,” notes Miguel Clavijo, CEO of Grupo Clavijo.

The staff forming NCLAVE have more than 10 years of experience, during which over 2 GW of PV have been installed in 40 countries; the new venture is scheduled to install 600 MW over the coming months, the companies say.

NCLAVE has offices and production centers on all five continents, led by Grupo Clavijo, with headquarters in Viana, Navarra Province. Other offices are located in Chile, the US, Brazil and Australia. Metal fabricator for the PV industry, MFV Solar, with headquarters in Liria, Valencia Province, has a long supply history in various countries in Europe, Latin America and Asia.

Q-Growth Fund is an investment vehicle of Qualitas Equity Partners, a fund manager in the Spanish private equity industry, including the photovoltaic sector. “Photovoltaic solar energy has reached the point where it can compete with conventional energy sources. This means that there will be strong global growth in the sector in the coming years. Our goal is to help create a global leader that is able to harness the growth opportunities existing in the sector,” remarks Borja Oyarzabal, a partner at Q-Growth.

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