Nextpower Arabia, the Newly Formed Joint Venture Between Nextpower and Abunayyan Holding to Supply 2.25 GW of Smart Solar Trackers to L&T for ACWA Power Consortium?s Bisha Solar Project
Nextpower Arabia, the newly formed joint venture between Nextpower and Abunayyan Holding, announced it will provide 2.25 GWp of advanced solar tracking systems to Larsen & Toubro (L&T) for the Bisha Solar project, one of the large utility-scale solar plants being developed by an ACWA Power-led consortium. The project was procured by the Saudi Power Procurement Company (SPPC) as part of Wave 6 of the Kingdom's National Renewable Energy Program (NREP) overseen by the Ministry of Energy. Located in the Asir Province, Bisha is the largest of the Wave 6 solar projects.
The project represents a significant addition to Saudi Arabia's expanding utility-scale portfolio and supports the Kingdom's long-term energy and decarbonization objectives. This new 2.25 GWp order is the first major project to be fulfilled through the Nextpower Arabia joint venture, now fully operational. Through localized sales, manufacturing, delivery and supply chain capabilities, Nextpower Arabia will support the efficient deployment of utility-scale solar power plants, while advancing industrial development and workforce development in the Middle East and North Africa (MENA) region.
Nextracker Inc. is a provider of integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects. Its products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. Its products include NX Horizon, NX Gemini, TrueCapture, and NX Navigator. Its solutions include Bifacial PV modules, Large Format Modules, and First Solar Series 6 (FSLR6) Modules. NX Horizon is a one-in-portrait (1P) smart solar tracker system that delivers the lowest levelized cost of energy (LCOE). NX Gemini is its two-in-portrait (2P) format tracker which holds two rows of solar panels along the central support beam. TrueCapture is its flagship software offering, which is a self-adjusting tracker control system that uses machine learning to enhance solar power plant energy yield. It has operations in the United States, Brazil, Mexico, Spain, India, Australia, the Middle East and Brazil.
This super rating is the result of a weighted average of the rankings based on the following ratings: Global Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Global Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of the rankings based on the following ratings: Capital Efficiency (Composite), Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
Nextpower Arabia, the Newly Formed Joint Venture Between Nextpower and Abunayyan Holding to Supply 2.25 GW of Smart Solar Trackers to L&T for ACWA Power Consortium?s Bisha Solar Project
