Grupo Clavijo and MFV Solar are joining forces to become one of the largest photovoltaic solar trackers in the game. The Spanish companies Grupo Clavijo and MFV Solar, with the support of the Q-Growth Fund, have reached a merger agreement to form NCLAVE, the new name of this partnership, and are aiming to be the world leader in the design, manufacture and installation of structures and trackers in solar.
NCLAVE now has more than 10 years of experience, during which it has installed over 2 GW in 40 countries; and it is scheduled to install 600 MW in the coming months. It currently has offices and production centers on all five continents, making it a global company.
Grupo Clavijo, with its headquarters in Viana (Navarra, Spain) is now one of the sector leaders in Latin America, the USA and in the MENA region and it has production plants and offices in Chile, the USA, Brazil and Australia. In turn, MFV Solar, with its headquarters in Liria (Valencia), has a long and strong track record with installations in various countries in Europe, Latin America and on the Asian continent.
Q-Growth Fund is an investment vehicle of Qualitas Equity Partners, a fund management company with one of the longest track records in the Spanish private equity industry and with extensive experience in the photovoltaic sector. This operation is encompassed in its fund targeting companies in growth stages.
“Photovoltaic solar energy has reached the point where it can compete with conventional energy sources. This means that there will be strong global growth in the sector in the coming years. Our goal is to help create a global leader that is able to harness the growth opportunities existing in the sector”, remarks Borja Oyarzabal, a partner at Q-Growth.
“The merger with MFV Solar is a strategic step that strengthens our companies’ international standing in the structures and solar trackers sector. Furthermore, with the support of Q-Growth, we are taking a major step towards making the most advanced solar tracking technology available to developers, EPC contractors and installers worldwide”, notes Miguel Clavijo, CEO of Grupo Clavijo.