Leeward Renewable Energy and Nextracker Expand Strategic Partnership with 3-Year Volume Commitment Agreement for 3 Gigawatts of Solar Tracker Technology

Rhea-AI Summary

Leeward Renewable Energy (LRE) and Nextracker have signed a Volume Commitment Agreement (VCA) to deliver three gigawatts (GW) of Nextracker's NX Horizon™ smart solar tracking system to LRE solar projects. This agreement furthers their commitment to advancing the U.S. supply chain and domestic manufacturing. Nextracker's technology will enhance energy production and resilience of LRE's solar portfolio. The agreement emphasizes job creation and U.S.-made manufacturing of renewable energy projects.

Agreement furthers shared commitment to advancing the U.S. supply chain, facilitating domestic manufacturing and job creation

Nextracker’s innovative technology to enhance performance and resiliency of LRE’s solar portfolio

DALLAS & FREMONT, Calif.--(BUSINESS WIRE)-- Leeward Renewable Energy (LRE), a high-growth renewable energy developer and independent power producer, and Nextracker (Nasdaq: NXT), a global market leader in utility-scale solar tracker and software optimization technology, today announced that they have signed a Volume Commitment Agreement (VCA) to deliver three gigawatts (GW) of Nextracker’s NX Horizon™ smart solar tracking system to LRE solar projects under development and construction through 2027. This is the second VCA agreement between LRE and Nextracker, further extending their strategic partnership.

(Photo: Business Wire)

As part of the agreement, Nextracker will provide its solar tracker and software technology to LRE solar power projects located in strategic geographies across the U.S. Paired together, Nextracker's TrueCapture™ and NX Navigator™ software technologies maximize solar energy production and offer reliability features that help protect solar panels and mitigate the adverse effects of extreme weather, such as snow, hail, and high winds.

“We are pleased to expand our long-standing partnership with Nextracker, whose technology will enhance energy production at our facilities,” said Jason Allen, LRE Chief Executive Officer. “Nextracker is a domestic supplier with a strong track record of delivering systems on time, and our agreement allows LRE to significantly de-risk our supply chain and uphold our commitment to providing our customers with reliable energy to meet their needs and sustainability goals.”

“The team at Leeward Renewable Energy have been strong supporters of our domestic manufacturing program for several years now and we’re grateful for their trust,” stated Dan Shugar, founder and CEO of Nextracker. “We’re delighted to be supplying our high performing solar tracking systems and advanced software to the LRE VCA project portfolio—with mostly domestic content.”

The agreement emphasizes a shared commitment by both companies to increase domestic job creation and U.S.-made manufacturing of renewable energy projects. Much of the steel and electronics used in the supply of Nextracker’s systems are manufactured in factories the company has commissioned over the past two years, creating several hundred jobs. Nextracker will supply LRE finished steel product from its recently opened domestic steel manufacturing locations in Pennsylvania, Tennessee, and Texas as part of this agreement.

About Leeward Renewable Energy, LLC

Leeward Renewable Energy (LRE) is a high-growth renewable energy company building a sustainable future for all. The company owns and operates a portfolio of 25 wind, solar, and energy storage facilities across the United States, totaling approximately 2,700 megawatts of generating capacity, and is actively developing and contracting a robust pipeline of new renewable energy projects. LRE takes a tailored, full-lifecycle approach to its projects, which is underpinned by its long-term ownership model and purpose-driven culture that is dedicated to benefiting its community partners while protecting and enhancing the environment. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of the largest defined pension plans in Canada, with C$124.2 billion in net assets (as of December 31, 2022). For more information, visit www.leewardenergy.com.

About Nextracker

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20230801740734/en/

LRE Media

Kelly Kimberly

713.822.7538

Liz James

281.881.5170

FGS Global

lre@fgsglobal.com

Nextracker Media

Alex Petersen (on behalf of Nextracker)

(203) 313-7699

alex@tigercomm.us

Source: Leeward Renewable Energy, LLC

FAQ

What is the Volume Commitment Agreement (VCA) between Leeward Renewable Energy (LRE) and Nextracker?

The Volume Commitment Agreement (VCA) is an agreement between LRE and Nextracker to deliver three gigawatts (GW) of Nextracker's NX Horizon™ smart solar tracking system to LRE solar projects.

What is the purpose of the VCA between LRE and Nextracker?

The purpose of the VCA is to enhance energy production and resilience of LRE's solar portfolio by utilizing Nextracker's innovative technology.

What are the benefits of Nextracker's technology for LRE's solar projects?

Nextracker's technology, including TrueCapture™ and NX Navigator™ software, maximizes solar energy production and offers reliability features that help protect solar panels and mitigate the adverse effects of extreme weather.

What is the significance of this agreement?

This agreement furthers the shared commitment of LRE and Nextracker to advancing the U.S. supply chain, facilitating domestic manufacturing, and increasing job creation in the renewable energy sector.

Where are Nextracker's steel manufacturing locations?

Nextracker's recently opened domestic steel manufacturing locations are in Pennsylvania, Tennessee, and Texas.