Friday, 24 July 2026

Array Technologies has struck a definitive deal to buy Affordable Wire Management, which supplies cable protection and balance of system gear, in a transaction valued at as much as $203 million, according to pv magazine.

The purchase carries a base price of $153 million in cash payable at closing, according to pv magazine. On top of that, the buyer will pay up to $50 million tied to performance earnouts and employment-contingent terms running through 2028.

Through May 31, 2026, the target booked close to $60 million in trailing revenue, pv magazine reported. At the full deal value, that puts the enterprise multiple near 8.8 times its trailing 12-month EBITDA.

Closing is expected in the third quarter of 2026, according to pv magazine. Array projects high single-digit accretion to adjusted earnings per share in the first full year after the deal completes.

The company also unveiled a 60-degree version of its DuraTrack tracker, aimed at moderate hail hazard areas that include Texas and the Great Plains, pv magazine reported.

According to pv magazine, the new tracker uses mechanical passive wind stow that limits row stowing in turbulent wind, which the company says can add up to 4% in energy production against full-field stow setups.

Quotations for the 60-degree DuraTrack open in 2026, with the first project deliveries set for mid-2027, according to pv magazine.

Expro closed its purchase of Enhanced Drilling, a Norwegian managed pressure drilling specialist, in a deal valued near USD 208 million, according to Offshore Engineer OEDigital.

The transaction brings Enhanced Drilling's managed pressure drilling and riserless mud recovery technologies into Expro's product line, Offshore Engineer OEDigital reported. The publication said the added technologies let Expro enter customer projects at the well planning and design stage.

Enhanced Drilling has run its managed pressure drilling and riserless mud recovery systems mainly across the North Sea, the Caspian Sea and the Gulf of America, according to Offshore Engineer OEDigital.

Expro intends to take the technologies into further offshore markets, naming West Africa, Latin America and Asia Pacific, the publication reported.

Expro chief executive Michael Jardon described the transaction as "a strong strategic fit" for the company's offshore work, according to Offshore Engineer OEDigital.

Array Technologies has agreed to acquire Tempe, Arizona-based Affordable Wire Management LLC (AWM) for total consideration of about USD 203 million, according to Array officials cited by Solar Builder.

The deal is expected to close in Q3 2026, according to Solar Builder. Array Technologies struck the agreement to acquire AWM, Solar Builder reported. Array officials put the total consideration at about USD 203 million.

AWM had nearly USD 60 million in trailing twelve months revenue as of July 2026, according to Solar Builder.

Kevin G. Hostetler of Array said the acquisition will broaden the company's balance-of-system portfolio and create new growth vectors in the battery energy storage system (BESS) and datacenter markets, according to Solar Builder.

AWM's senior management team is expected to remain with Array after the closing, the companies said, per Solar Builder.

AWM was founded in 2020 and develops products to organize, secure, and protect electrical wiring systems, according to Solar Builder.

Virginia rejoined the Regional Greenhouse Gas Initiative (RGGI) on July 1 after a hiatus of more than two years, according to Inside Climate News.

RGGI is a carbon market that Virginia and 11 other northeastern states participate in, and it requires electricity producers to bid to purchase allowances for each ton of carbon they emit, Inside Climate News reported. The number of allowances will decrease to zero by 2050 to speed adoption of a cleaner electric grid, according to the outlet.

The return raises costs for ratepayers. The RGGI monthly fee for a typical residential customer in Virginia was about USD 2.39 in 2022 but is now expected to be about USD 13, according to Inside Climate News.

Virginia joined RGGI in 2021 under Democratic control and withdrew in 2023 at the request of former Republican Governor Glenn Youngkin, the outlet reported.

Power-sector emissions moved sharply over the period around Virginia's exit. According to the Virginia Department of Environmental Quality, emissions from the state's power sector fell from about 32.7 million tons of CO2 in 2020 to 25.5 million tons in 2023, the year the state left, then rose to 33.3 million tons by 2025.

Dominion said it will create over 10 million tons of emissions needing RGGI allowances in 2026, for only half the year, according to Inside Climate News.

Virginia is ranked 27th in the nation for renewable energy consumption, at 7.8%, the outlet reported.

Brookfield Corp. has agreed to acquire Aypa Power from Blackstone Energy Transition Partners, according to Solar Builder. The financial terms come to about USD 7 billion, according to Solar Builder.

Aypa Power holds 6.5 GW of battery storage in its total portfolio and more than 20 GW in its development pipeline, according to Solar Builder. That scale makes it one of the largest assets in the North American battery storage market, per the same report.

Under the agreement, Brookfield will take over Aypa's operating assets alongside its under-construction and contracted project portfolio, according to Solar Builder. The transaction also includes Aypa's team of about 200, per the report.

Aypa's operating and under-construction portfolio sits at 95% contracted, mostly through long-term agreements with investment-grade customers, according to Solar Builder.

Aypa Power is currently the largest standalone battery storage developer in North America, serving markets in both the United States and Canada, according to Brookfield.

Jehangir Vevaina, chief investment officer of Brookfield's energy group, said battery storage is increasingly critical to the reliability and resilience of today's energy systems.

SLB reported second-quarter revenue of USD 8.97 billion, up 5% year over year, as international offshore activity offset a decline in the Middle East, according to World Oil.

Net income attributable to the company reached USD 786 million for the quarter, World Oil reported. Adjusted EBITDA came in at USD 1.90 billion, supported by higher offshore activity, stronger production systems demand and continued digital growth.

Middle East revenue fell 13%, which World Oil attributed to ongoing conflict-related operational disruptions. Offshore drilling in Brazil, Guyana, Mexico, Nigeria and the North Sea contributed to the international gains that offset that decline.

Production Systems revenue rose 7% sequentially, supported by increased subsea activity, artificial lift, surface production systems and production chemicals, according to World Oil. Digital revenue increased 9%, reflecting stronger demand for exploration software, digital operations and AI-enabled workflows.

CEO Olivier Le Peuch said the regional conflict has heightened the industry's focus on supply diversification, reinforcing the strategic importance of deepwater, exploration, and production and recovery activities.