Shoals Technologies Group and PCL Construction Break Ground on 243 MW Maryvale Solar and Energy Storage Project in Australia
Rhea-AI Summary
Shoals Technologies Group (NASDAQ: SHLS) has announced groundbreaking on the Maryvale Solar and Energy Storage Project in New South Wales, Australia, in partnership with PCL Construction and Gentari. The project represents eastern Australia's first large-scale DC-coupled solar and battery energy storage system.
The facility will deliver 243 MW of solar generation capacity combined with 172 MW of battery storage. Shoals will provide its advanced electrical balance of system solutions, including string harnesses, SuperJumpers, and Super Combiners. Construction has begun with commercial operations expected to start in early 2027.
Positive
- Project represents first large-scale DC-coupled solar and battery system in eastern Australia
- Strategic entry into Australian market, which targets 82% renewable electricity by 2030
- Partnership with established players PCL Construction and Gentari strengthens market position
Negative
- Long timeline to commercial operations (early 2027) may delay revenue recognition
News Market Reaction
On the day this news was published, SHLS gained 16.38%, reflecting a significant positive market reaction. Argus tracked a peak move of +11.0% during that session. Our momentum scanner triggered 28 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $143M to the company's valuation, bringing the market cap to $1.02B at that time. Trading volume was above average at 1.5x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
First Large-Scale DC-Coupled Solar and Battery Energy Storage System in the Region
PORTLAND, Tenn., Aug. 18, 2025 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (Shoals) (Nasdaq: SHLS), a global leader in electrical balance of system (EBOS) solutions for the energy transition market, announced the official groundbreaking of the Maryvale Solar and Energy Storage Project in partnership with PCL Construction (PCL) and clean energy solutions provider, Gentari.
Australia has set ambitious targets to generate
“We are thrilled to shape the future of energy with partners who share our values and vision,” Gopi Govindraj, PCL Country Manager, Australia, stated. “Our collaboration with Shoals is driving a milestone achievement in renewable energy infrastructure. Together, we are delivering eastern Australia's first utility scale DC-coupled solar and battery hybrid system, blending technical innovation with a shared drive to accelerate the clean energy transition. Partnerships like this are how we create meaningful change, building smarter infrastructure and brighter futures for the communities we serve.”
Gentari serves as the project owner and visionary force behind the Maryvale Solar and Energy Storage Project. As a leading clean energy solutions provider in the Asia-Pacific region, Gentari is committed to accelerating the global transition to net-zero emissions.
“We are proud to partner with PCL Construction and Gentari on this landmark project,” said Jeff Tolnar, President at Shoals. “The Maryvale project marks a significant milestone in Australia’s clean energy journey, showcasing the power of solar and storage integration at scale. By combining Shoals’ advanced electrical balance-of-system solutions with the expertise of our partners, we’re helping to accelerate the deployment of solar and storage projects in the region.”
PCL has commenced construction of the project, with commercial operations expected to begin in early 2027. Once operational, the Maryvale project will contribute to Australia’s renewable energy targets and provide reliable, dispatchable power to the National Electricity Market.
About Shoals Technologies Group, Inc.
Shoals Technologies Group is a leading provider of electrical balance of systems (EBOS) solutions for the energy transition market. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability. Shoals Technologies Group is a recognized leader in the renewable energy industry. For additional information, please visit: https://www.shoals.com.
Forward Looking Statements:
This press release contains certain forward-looking statements that are based on the Company’s management’s beliefs and assumptions and on information currently available to the Company’s management.
These forward-looking statements relate to, among other things, the Company’s execution of its contract related to the Maryvale project and the expected benefits thereofs. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Some of the key factors that could cause actual results to differ from the Company’s expectations include, among other things: our expansion outside the U.S. could subject us to additional business, financial, regulatory and competitive risks; we have modified, and in the future may modify, our business strategy to abandon lines of business or implement new lines of business; modifying our business strategy could have an adverse effect on our business and financial results; the imposition of trade restrictions, import tariffs, anti-dumping and countervailing duties could adversely affect the amount or timing of our revenue, results of operations or cash flows; and amounts included in our backlog and awarded orders may not result in actual revenue or translate into profits.
These and other important risk factors are described more fully in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission and could cause actual results to vary from expectations. Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent the Company’s management’s beliefs and assumptions only as of the date of this report. You should read this report with the understanding that the Company’s actual future results may be materially different from what the Company expects. Except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For media inquiries, please contact:
Public Relations
Lindsey Williams, VP of Marketing and External Communications
Lindsey.williams@shoals.com
Investor Relations
Matt Tractenberg, VP of Finance and Investor Relations
investors@shoals.com
FAQ
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