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Nextracker Signs Volume Commitment Agreement with Strata Clean Energy for 810 MW of Solar Trackers
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Nextracker Inc. (Nasdaq: NXT) has secured a multi-year agreement with Strata Clean Energy to supply 810 MW of solar trackers for projects across Texas, Arizona, and Virginia. This deal aligns with Nextracker's strategy to enhance U.S. manufacturing partnerships, as much of the equipment will be sourced domestically. The collaboration aims at reducing costs and increasing efficiency in solar power generation, supporting Strata's mission to mainstream low-cost solar energy.
Leaders from both companies express optimism about the impact on job creation and energy performance.
Positive
Secured a multi-year agreement with Strata Clean Energy for 810 MW of solar trackers.
Focus on U.S. manufacturing, enhancing domestic job creation and economic benefits.
Aims to reduce solar power generation costs while increasing efficiency.
Negative
None.
Multi-year agreement will supply Strata solar power projects in Texas, Arizona, and Virginia
FREMONT, Calif.--(BUSINESS WIRE)--
Nextracker Inc. (Nasdaq: NXT), a leading provider of solar tracking and software solutions, has signed a multi-year volume commitment agreement with Strata Clean Energy to supply 810 megawatts (MW) of trackers for large-scale solar power projects in Texas, Arizona, and Virginia. Consistent with Nextracker's years-long campaign to grow its partnerships with US suppliers, much of the equipment will be sourced from U.S. factories.
Nextracker Signs Volume Commitment Agreement with Strata Clean Energy for 810 MW of Solar Trackers (Photo: Nextracker)
“We are thrilled to sign this multi-year supply agreement with Nextracker”, said Markus Wilhelm, CEO Strata Clean Energy. “Strata continues to grow with a mission to mainstream low-cost solar power by working with key partners like Nextracker. Nextracker’s leading-edge solar tracking technology enables a light-on-land approach that minimizes grading, maximizes energy performance, and incorporates clean US-made steel, creating energy jobs benefitting the US economy.”
“We are honored to be supporting Strata’s growth with this supply agreement”,” said Dan Shugar, Founder and CEO of Nextracker. “Strata’s integrated model of solar and storage development, EPC, and operations generates value for utilities and landowners. Our expanded U.S. supply chain is well positioned for their needs to reliably deliver high performing solar power plants, while creating more jobs in communities across the country. We’re excited to enter into this agreement with Strata to deliver low-cost high-performing solar power plants.”
“Transforming American energy with solar projects that are optimized for unmatched performance is crucial to our mission," said Leni John, Chief Procurement Officer of Strata. “Nextracker’s intelligent, integrated smart solar tracker and software solutions help transform PV projects into high-efficiency power generation plants.
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 over 70 gigawatts shipped worldwide, Nextracker leads the solar industry with solar tracker technologies that optimize and increase energy production while reducing costs for significant plant ROI. For more information, please visit Nextracker.
Strata Clean Energy and its affiliates are a vertically integrated solar and storage development, engineering/procurement/construction (“EPC”), and operation/maintenance (“O&M”) company. Strata has deep utility experience with more than 170 projects in operation, 14 GW/25 GWh in development and 4 GW in its O&M portfolio. Strata’s end-to-end services reduce risk, increase efficiency, and maximize cost-competitiveness for our partners. Learn more about Strata Clean Energy at www.stratacleanenergy.com
Nextracker Contact
Kristan Kirsh Vice President, Global Marketing
KKirsh@nextracker.com
Source: Nextracker Inc.
FAQ
What is the recent agreement Nextracker signed regarding solar trackers?
Nextracker signed a multi-year agreement with Strata Clean Energy to supply 810 MW of solar trackers for projects in Texas, Arizona, and Virginia.
How does this agreement impact Nextracker's operations?
The agreement enhances Nextracker's U.S. manufacturing partnerships while supporting job creation and potentially reducing costs in solar power generation.
When was the agreement between Nextracker and Strata Clean Energy announced?
The agreement was announced on March 28, 2023.
What are the expected benefits of the Nextracker and Strata agreement?
The agreement is expected to lead to lower costs, increased efficiency in solar power projects, and job creation in the U.S.
How does Nextracker's agreement impact their stock symbol NXT?
The agreement may positively affect investor perception of Nextracker's growth potential, but specific impacts on the stock price can vary based on market conditions.
