European Renewable Energy Developer IbVogt Chooses Nextracker’s Terrain-Following Solar Tracker

Rhea-AI Summary

Nextracker (NASDAQ: NXT) has secured a significant contract in Europe for its terrain-following solar tracker NX Horizon-XTR™. The contract is with IbVogt for the 150 MW Garnacha solar power plant in Spain, backed by a 12-year power purchase agreement with Google. The XTR technology enables solar panels to adapt to uneven land, minimizing environmental impact and facilitating local permits. Nextracker has shipped over 70 GW globally, increasing energy production by 20-30% compared to fixed-tilt designs. This project marks a milestone, bolstering Nextracker’s portfolio in Europe across multiple countries including Brazil, USA, Canada, and Africa.

Positive

• Secured contract for 150 MW solar project in Spain with IbVogt.
• Backed by a 12-year power purchase agreement with Google.
• NX Horizon-XTR technology minimizes environmental impact and eases local permitting.
• Nextracker has shipped over 70 GW of solar trackers globally.
• Projects utilizing NX Horizon-XTR boost energy output by 20-30%.

Negative

• None.

Ability to adapt to uneven terrain and go light on land is crucial to Europe’s demand for solar power to meet growing energy needs

MADRID--(BUSINESS WIRE)-- Nextracker Inc. (NASDAQ: NXT) secured a new deal in Europe for its terrain-following solar tracker NX Horizon-XTR™ (XTR), demonstrating demand for tracking technology that enables solar developers to build on land with complex topography and unique environmental constraints. The German international solar developer, IbVogt, chose Nextracker’s XTR for the 150 MW Garnacha solar power plant in Spain. The project is backed by a 12-year power purchase agreement (PPA) with Google and is expected to begin production October of 2023. Leading the global market in solar trackers and optimization software, Nextracker’s advanced technology systems allow solar panels to follow the sun’s movement and maximize energy output.

European Renewable Energy Developer IbVogt chooses Nextracker’s NX Horizon-XTR for its upcoming 150 MW project in Spain (Photo: Business Wire)

“Due to the local zero grading requirements on our project, we needed a solar tracker solution that would have minimal environmental impact and allow us to secure local permits,“ stated Patrick Zenker, Global Procurement Director of IbVogt. ” With a 10-gigawatt track record, NX Horizon-XTR gave us peace of mind and low risk."

“With gas price volatility, European leaders are looking for the lowest cost, most reliable form of energy, and that is utility scale solar power,” said Dan Shugar, Founder and CEO of Nextracker. “Europe’s exceptional environmental stewardship, unique cultural sites and challenging topography provide the perfect conditions for our terrain-following trackers that maximize energy output with a light-on-land footprint.”

Nextracker’s NX Horizon-XTR™ allows rows of solar panels to adjust to uneven terrain, following the natural curvature of the earth. Its terrain-following capabilities enable developers to work on challenging sites that would otherwise be infeasible. It also cuts costs by limiting grading work and associated delays, simplifying the permitting process, and reducing the need for soil-related maintenance.

Solar projects using NX Horizon-XTR have a lighter impact on the environment as they leave more soil intact, benefitting the local ecology and reducing risk of soil erosion. The projects also require less steel for extended pilings, lowering a project’s overall carbon footprint.

The Garnacha project expands Nextracker’s multi-gigawatt portfolio in Europe. The company has offices in Seville and Madrid, with dedicated employees working with customers across the continent with deep expertise to support the life cycle of every project.

“The Nextracker European team has achieved an important milestone of reaching over 3 GW of projects with major solar developers, utilities and European EPC companies for projects in Europe as well as Brazil, USA, Canada and Africa,” said Arturo Herrero, Nextracker SVP Europe.

Nextracker, a leading solar tracking company with 70 GW shipped globally to five continents, has deployed their terrain-following NX-Horizon XTR on close to 10 GW of utility-scale solar globally. Nextracker’s solar trackers increase energy production by 20-30% more than fixed-tilt applications that do not track the sun.

About Nextracker

Nextracker is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. Our products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. With more than 70 gigawatts shipped worldwide, Nextracker offers solar tracker technologies that optimize and increase energy production while reducing costs for significant plant ROI. For more information, please visit Nextracker.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005879/en/

Nextracker Contact

Kristan Kirsh

Vice President, Global Marketing

KKirsh@nextracker.com

Source: Nextracker Inc.

FAQ

What is Nextracker's recent project in Europe involving the NX Horizon-XTR?

Nextracker secured a deal for the 150 MW Garnacha solar power plant in Spain, utilizing its NX Horizon-XTR technology.

Who is the developer behind the Garnacha solar power plant project using Nextracker's technology?

The developer is IbVogt, an international solar developer.

What is the significance of the power purchase agreement associated with Nextracker's project in Spain?

The project is supported by a 12-year power purchase agreement with Google, ensuring long-term revenue.

How does the NX Horizon-XTR technology benefit solar developers?

It allows for adaptation to uneven terrain, reduces environmental impact, and simplifies the permitting process.

What is Nextracker's market position in the solar tracker industry?

Nextracker is a leading solar tracking company, having shipped over 70 GW of solar trackers worldwide.