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Abunayyan Holding and Nextracker Enter into Agreement to Form Joint Venture to Accelerate Energy Transition in Saudi Arabia and MENA Region
New Saudi-based company, Nextracker Arabia, will manufacture and supply advanced solar tracking systems and technology to major utility-scale projects in the
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[{"type":"text","content":"\nNew Saudi-based company, Nextracker Arabia, will manufacture and supply advanced solar tracking systems and technology to major utility-scale projects in the Kingdom and across the MENA region\n\n\n RIYADH, Saudi Arabia--(BUSINESS WIRE)--\nAbunayyan Holding and Nextracker (Nasdaq: NXT) have signed an agreement to form Nextracker Arabia, a new joint venture that will help accelerate solar adoption across the Kingdom and the Middle East and North Africa (MENA) region.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251023451827/en/Abunayyan Holding and Nextracker enter into agreement to form joint venture to accelerate energy transition in Saudi Arabia and MENA region\nHeadquartered in Riyadh, Nextracker Arabia will combine Abunayyan’s 75 years of leadership in water and energy infrastructure in Saudi Arabia and the MENA region with U.S.-based Nextracker’s global market share leadership in solar power plant technologies, advanced solar trackers, and yield management and control systems.\n\n\nNextracker Arabia will build on the unique experience and expertise in clean energy and solar innovation these two organizations bring to the new joint venture. This combination will best enable the new entity to advance Saudi Arabia’s clean energy transition while helping achieve the goals of Saudi Vision 2030 to diversify the economy and strengthen local industrial capacity.\n\n\nThe joint venture includes sales, engineering, and operations, and will assume ownership of Nextracker’s existing manufacturing facility in the Kingdom. This initial plant will play a key role in the production and distribution of Nextracker’s integrated solar power plant technologies for major utility-scale and distributed generation projects in Saudi Arabia and across the MENA region. These technologies will include Nextracker’s advanced solar trackers, mechanical infrastructure, and yield management and control systems.\n\n\nTurki Al-Amri, Abunayyan Holding CEO, said, “Nextracker has a proven track record of the highest performing solar power systems. Nextracker Arabia will represent a powerful new platform built on shared values of sustainability and responsibility as well as a commitment to maximizing the potential of solar energy to lead MENA’s clean energy future. Together, we can deliver highl...