Array Technologies announces $50 million New Mexico expansion

Array Technologies announced Thursday that the company plans to build a $50 million manufacturing campus in Bernalillo County, expanding its operations here.

Array started manufacturing solar tracker technology in Albuquerque more than 30 years ago and went public in 2020 under the symbol ARRY.

The company has plans for a 216,000 square-feet manufacturing campus on Albuquerque’s West Side at 701 Atrisco Vista SW, according to a news release announcing the expansion project.

Array and its partners plan to invest $50 million into the development. Construction is expected to start in early 2024.

Gov. Michelle Lujan Grisham said the business will receive $2.5 million in Local Economic Development Act funding from the state.

“New Mexico has a long history of being the home of innovation and cutting-edge technology, and companies like Array embody that legacy,” she said in a statement.

The 22-acre expansion will allow Array to hire about 100 new employees over the next several years, according to the news release. The salaries for those jobs will range from $35,000 to $127,000.

The city of Albuquerque and Bernalillo County each are also contributing $250,000 in LEDA funds for the project. They company will also receive a partial property-tax abatement through an Industrial Revenue Bond with Bernalillo County.

Between capital investments and job creation, the expansion project is expected to have an economic impact of more than $300 million over 10 years. The project will also create 75 construction jobs.

Officials with the company couldn’t be reached for comment on Thursday.

In a statement, Array CEO Kevin Hostetler said, “Our foundation was laid in Albuquerque over 30 years ago, and this expansion is a testament to our longstanding relationship with this vibrant community. This move signifies more than just growth; it reaffirms our commitment to New Mexico, its people, and the global renewable energy mission we’ve passionately pursued since we opened. We’re excited to continue lighting the way to a brighter, cleaner energy future from our home state.”

Array is a renewable energy company that provides solar tracker technology and software to maximize energy production. Headquartered in Albuquerque, the company also has operations in Arizona, Australia, Brazil, England, South Africa and Spain.

Array stock on Thursday was trading at around $17.44 per share. The company previously announced it will release its third quarter results after the market closes on Nov. 7.