Shoals Technologies Group, Inc. (NASDAQ: SHLS) shares descended Tuesday. The company, based in Portland, Tenn., and boasting a status as a global leader in electrical balance of system solutions for the energy transition market, announced the execution of a contract with CJR Renewables to deliver its innovative Big Lead Assembly (BLA) for the 110 MW Alcones project in the Marchigüe, Región del Libertador Bernardo O´Higgins (VI), Chile.
CJR Renewables, a leading Engineering, Procurement, and Construction (EPC) firm, has installed 1.6 GW of solar across the globe. The 110 MW Alcones project will be the first built with BLA in Chile, enabling the acceleration of installation and enhancing long-term system reliability. Shoals' BLA system is designed to improve energy yield and reduce the levelized cost of energy. The BLA system simplifies installation, reduces the need for skilled labor, and enhances the long-term reliability of solar installations.
The partnership also supports Shoals' strategic expansion into attractive new markets, like South America. Shoals has built a strong track record of delivering high-quality, reliable EBOS solutions that exceed industry standards.
“We are excited about the opportunity to partner with CJR Renewables to support the Alcones project,” said Juan Manuel Carbajosa García, Director of Sales at Shoals.
“Our continued execution within our strategic global markets remains a priority. This project not only marks our expansion into the South American market but also showcases the effectiveness of our BLA system in addressing regional challenges.”
SHLS opened Tuesday off by 46 cents, or 7.3%, to $5.84.
