{"id":378719,"date":"2020-10-16T09:28:00","date_gmt":"2020-10-16T03:58:00","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=378719"},"modified":"2020-10-16T09:49:49","modified_gmt":"2020-10-16T04:19:49","slug":"solar-power-equipment-maker-array-raises-1-billion-in-ipo","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/solar-power-equipment-maker-array-raises-1-billion-in-ipo\/","title":{"rendered":"Solar power equipment maker Array raises $1 billion in IPO"},"content":{"rendered":"<p>US solar power equipment maker Array Technologies sold shares in its initial public offering (IPO) on Wednesday at $22 apiece, above its target range, raising $1.05 billion. <\/p>\n<p>The offering of 47.5 million shares values Array, which is backed by US private equity firm Oaktree Capital, at $2.8 billion. It had aimed to sell 45 million shares at $19 to $21 per share.<\/p>\n<p>Array, founded in 1989, went public as global energy consumption is shifting away from fossil fuels to sustainable sources such as solar and wind. The Albuquerque, New Mexico-based company produces steel supports, electric motors and controllers, gear boxes and other solar energy equipment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US solar power equipment maker Array Technologies sold shares in its initial public offering (IPO) on Wednesday at $22 apiece, above its target range, raising $1.05 billion. The offering of 47.5 million shares values Array, which is backed by US private equity firm Oaktree Capital, at $2.8 billion. It had aimed to sell 45 million shares at $19 to $21 per share. Array, founded in 1989, went public as global energy consumption is shifting away from fossil fuels to sustainable sources such as solar and wind. The Albuquerque, New Mexico-based company produces steel supports, electric motors and controllers, gear boxes [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,234],"tags":[],"class_list":["post-378719","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-power-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/378719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=378719"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/378719\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=378719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=378719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=378719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}