PV Hardware Australia has announced a record AUD$138m in revenue and has positioned itself as the new leader of the Australian solar tracking market in 2022, according to Rystad Energy analysis.
Solar trackers are essential for utility-scale solar initiatives, and PV Hardware said its market-leading technology assists developers and EPCs in optimising project performance.
PV Hardware surpassed previous leader NEXTracker by gaining supply deals with key companies, including FRV, Lightsource BP, and ACEnergy. PVH’s total project accounts in 2022 exceed 1.9 GW, with 17 projects completed since entering the Australian market in 2019.
According to PVH, its quick ascension to the top of the Australian market in 2022 saw the business generate more than AUD$138 million in clean energy projects and net more than a billion dollars internationally, a 121% gain.
As Australia strives to achieve net zero emissions by 2050, the renewable technology sector has seen remarkable growth, with new energy projects announced regularly. After the success of PVH’s first Victorian Renewable Energy Target (VRET) project in 2020, the company has begun discussions for its second VRET project, which is expected to be signed in the first quarter of 2023.
APAC Manager Alejandro Cantos stated that the secret to PVH’s rapid success is the company’s technical knowledge, product range, and bespoke approach to the unique Australian market.
“Whilst PV Hardware was already a dominant player in Europe, the Middle East and Africa, when we arrived in Australia, we immediately realised that this market was completely different and quite challenging. We started from scratch by knocking on doors and integrating ourselves. Board support and great technical capabilities, mixed with a uniquely talented team were crucial to survive and achieve our first steps in the country,” Cantos said.
Cantos added that PVH specialises in integrating its structures into new environments and projects.
“We attribute a large portion of our success in the Australian market by leaning heavily on local talent and local manufacturing. By owning the manufacturing process and having our own custom-built factories around the world, we have control of production and can deliver Australian customised solutions on time and on budget for our clients, Winton SF the one and only project achieved with almost 100% Australian steel is a living proof of our capability,” Cantos stated.
Despite recent success in the burgeoning Australian renewable energy market, Cantos feels that Australia’s renewable energy growth is still in its early phases.
“We still have room for improvement. Now the difficulty remains in securing our recently acquired first position in the market and we firmly believe the best is yet to come. The Australian market already knows that we are more than just a tech provider, PV Hardware is a solutions provider, Australia requires solutions now more than ever and PVH is here to stay,” Cantos said.
Cantos believed Australia has everything it needs to become a renewable superpower due to its quantity of raw resources and renewable natural energy sources and its geopolitical position.
In addition to its development in Australia, PV Hardware has already secured 65,000m2 in Spain to construct the world’s largest solar tracking facility, with a capacity of 25 GW.
