Riyadh, Saudi Arabia : NextPower Arabia, a subsidiary of NextPower ( NASDAQ: NXT , formerly known as NextTracker) and Abunyan Holding, today announced the supply of state-of-the-art solar tracking systems with a total capacity of 2.25 gigawatts (GWp) by Larsen & Toubro (L&T) for the Bisha Solar Power Project, one of the largest grid-scale solar power plants in the Kingdom, led by a consortium headed by ACWA Power .

The project was awarded by the Saudi Power Procurement Company (SPPC) under the sixth wave of the National Renewable Energy Program (NREP) under the supervision of the Ministry of Energy in the Kingdom .

The Bisha project is located in the Asir region and is the largest of the solar energy projects in the sixth wave. This project represents a qualitative addition to the Kingdom’s growing portfolio of solar energy projects, in order to increase the share of renewable energy in the energy mix.

The new 2.25 GW supply order is the first project to be implemented through NextPower Arabia.

For his part, Bharati Kumar, General Manager (Renewable Energy International) at Larsen & Toubro, said : “We have great confidence in Nextpower Arabia’s ability to provide the most advanced utility-scale solar energy solutions, which will help us achieve the highest levels of performance and provide clean energy at a low cost through the new Bisha plant in the long term. Manufacturing these systems locally, which will form the backbone of the Bisha plant, will lead to greater efficiencies at all stages of development, while reducing the costs and impact of international shipping.”

Dan Sugar, founder and CEO of Nextpower, commented : “The Middle East and North Africa region is a top strategic priority for Nextpower. This project builds on our long-standing partnerships with ACWA Power and Larsen & Toubro, and represents an important milestone in our new joint venture with Abunyan Holding. Through Nextpower Arabia, we are contributing to the localization of flexible solar energy technologies, specifically designed to deal with the challenging conditions in the region, while strengthening the local supply chain to support the Kingdom’s long-term goals of transitioning to an optimal energy mix.”

Turki Al-Omari, Chairman and CEO of Nextpower Arabia and CEO of Abunyan Holding, said : “The Bisha project will contribute significantly to achieving national and regional transformation goals in the field of renewable energy. By manufacturing Nextpower Arabia’s systems within the Kingdom, we can offer a wide range of benefits to our development partners across the new local solar supply chain, while driving the Kingdom’s national manufacturing strategy.”

It is worth noting that ACWA Power, in partnership with the Water and Electricity Holding Company (Badeel) and the Saudi Aramco Power Company (SAPCO) , had announced earlier this year its commitment to invest US$8.3 billion to develop seven massive renewable energy plants, adding about 15 gigawatts of new capacity to the national electricity grid .

Nextpower has a proven track record of supporting large utility-scale solar energy projects in the region, starting with the implementation of the 405 MW Sakaka solar power plant in Saudi Arabia in 2018, bringing the total capacity supported by the company to date to more than 6 GW in the Middle East and North Africa ( MENA ) region.

About Nextpower Arabia

NextPower Arabia is a joint venture between NextPower (NASDAQ : NXT , formerly known as NextTracker), a leading global provider of advanced solar technology solutions based in the United States, and Abunian Holding, a leading developer and operator of energy and water infrastructure across the Middle East and North Africa region .

The joint venture combines Nextpower's global leadership in smart solar tracking systems and advanced energy solutions with Abunyan Holding's deep regional experience, extensive presence, and infrastructure development capabilities. Nextpower Arabia is strategically positioned to accelerate the development of solar power plants across the region and support the transition to clean energy .

For more information, please visit "NextPower Arabia".

About Larsen & Toubro Limited

Larsen & Toubro is an Indian multinational company with a turnover of US$23 billion, operating in the fields of engineering, procurement, and construction (EPC) , high-tech manufacturing, and services. The company has a presence in more than 50 countries worldwide. Its customer-centric approach and relentless pursuit of the highest quality standards have enabled it to maintain its leading position in its core business lines for eight decades .

For more information, please contact :

Orient Planet Group

Phone: +971 4 4562888

Email: media@orientplanet.com

Website: www.orientplanet.com

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