Latest news with #NXHorizon™
Business Wire
9 hours ago
- Business
- Business Wire
Nextracker Selected for Landmark European Solar Power Project
FREMONT, Calif.--(BUSINESS WIRE)-- Nextracker (Nasdaq: NXT), a global leader in advanced solar energy solutions, today announced that its NX Horizon™ solar trackers will power one of Europe's largest solar projects, the 550 MW 'Oricheio PPC Ptolemaida' solar PV park in Western Macedonia. Owned by Greek PPC Renewables (PPCR), a wholly owned subsidiary of utility PPC Group, the project was constructed by engineering procurement and construction (EPC) company Terna SA by repurposing the land of a former coal mine with high-performance solar energy infrastructure to generate clean, lower-cost electricity. Now in its final stage of construction, Oricheio PPC Ptolemaida is the largest single solar power project in Greece and is estimated to provide nearly 1.8% of the country's electricity per year when fully operational. Large-scale solar projects play a key role in advancing Europe's drive to energy independence and net-zero carbon goals by 2050. This project represents a significant milestone, adding clean power generation capacity to the grid and bringing new economic development benefits to the region. According to Greece's revised National Energy and Climate Plan (NECP), the country aims to reach a target of 82% renewable energy in its electricity generation by 2030, a significant increase from the previous target of 66% set in 2019. 'The 550 MW Oricheio PPC Ptolemaida solar project is an important step to increase energy independence in Europe and derisk capacity shortages for the region,' said Howard Wenger, president, Nextracker. 'We are honored to partner with leaders like Terna SA and Greece's utility PPC who are operating at the highest European standards for executing large-scale utility solar projects. This landmark project reinforces our culture of serving our customers with world class technology, backed by our talented European team and a robust supply chain ecosystem.' Wood Mackenzie reported that Nextracker is now the European market share leader and global market leader with over 130 GW solar trackers shipped worldwide. With a growing team of experts serving customers throughout the continent, Nextracker has expanded its European operations. Building on the company's extensive global supply chain, the company strengthened strategic local manufacturing partnerships in Europe to ensure on-time delivery for large-scale utility and distributed-generation (DG) projects. About Nextracker Nextracker innovates and delivers the global, leading solar power technology platform with integrated tracker, electrical solutions, and yield optimization and control systems for utility-scale and distributed generation projects. Our advanced technology enables solar power plants to follow the sun's movement across the sky and optimize performance. With systems operating in more than 40 countries worldwide, Nextracker offers innovative solutions that accelerate solar power plant construction, increase energy output, and enhance long-term reliability. For more information, visit Nextracker. Follow us on LinkedIn, YouTube, Instagram, X and Facebook.
Business Wire
23-04-2025
- Business
- Business Wire
kWh Analytics and Nextracker Collaborate to Cut Municipal Solar Insurance Deductible by 50 Percent Through Innovative Hail Stow Technology
SAN FRANCISCO--(BUSINESS WIRE)--kWh Analytics, the market leader in Climate Insurance, today announced a successful collaboration with Nextracker, a global leader in advanced solar energy solutions, that resulted in a 50 percent reduction in severe convective storm deductible for a solar project in Arkansas. This partnership demonstrates how strategic technology implementation can significantly improve insurance terms while enhancing risk mitigation for renewable energy assets. This partnership demonstrates how strategic technology implementation can significantly improve insurance terms while enhancing risk mitigation for renewable energy assets. The collaboration was initiated when traditional carriers became unwilling to cover a municipal solar developer's hail risk, a growing challenge for solar assets in severe weather regions. kWh Analytics, recognizing that the project employed Nextracker's solar tracking systems, developed an innovative insurance structure with comprehensive hail limits with low deductibles contingent on the implementation of Nextracker NX Horizon Hail Pro™ automated stow technology. 'This collaboration with Nextracker exemplifies how data-driven underwriting can incentivize resilience measures and benefit all stakeholders,' said Jason Kaminsky, CEO of kWh Analytics. 'By quantifying the risk reduction from advanced technologies like automated hail stow, we're able to offer significantly improved insurance terms.' The NX Horizon™ tracker system features core technology that enables rapid stowing without relying on grid power. The Nextracker asset management team collaborated with the municipal utility to upgrade existing tracker systems to include Hail Pro control system hardware and firmware, unlocking automatic stow capability. These enhancements included integrating DTN hail forecasting service and Nextracker's tailored hail stow thresholds, which trigger automatic stowing based on hail size, proximity to the site, and likelihood of impact. 'As extreme weather events become more frequent, having the ability to actively mitigate hail risk is becoming essential for solar asset owners and insurers,' said Andrew Griffiths, vice president asset management, Nextracker. 'Our Hail Pro technology is delivering measurable value by keeping critical infrastructure operating in the field, and in this case, contributing to lower insurance deductibles. This collaboration proves that smarter tracker design and advanced software can strengthen asset resilience and improve project economics.' For the developer, the benefits extended beyond insurance savings to operational improvements and peace of mind. 'This is so much easier and lets us sleep better at night and focus on preserving utility services for our community members,' said the municipal utility operations manager. This collaboration exemplifies how partnerships across the renewable energy industry can deliver tangible benefits for all stakeholders. When technology providers, insurers, and asset owners work together, they create innovative solutions that can reduce risk, lower costs, and enhance project reliability. You can learn more about the insurance deductible benefits resulting from this collaboration in kWh Analytics' case study. ABOUT kWh Analytics kWh Analytics, a leading Climate Insurance provider, underwrites property insurance and revenue firming products for renewable energy assets. Our proprietary database of 300,000+ zero-carbon projects and $100B in loss data fuels advanced modeling and insights, enabling precise underwriting decisions. This data-driven approach incorporates resiliency measures in risk evaluation, promoting sustainable practices in the renewable energy sector. Trusted by 5 of the top 10 global (re)insurance carriers, we've insured over $40 billion in assets to date. Our tailored solutions further our mission of providing best-in-class Insurance for our Climate. Recognized by InsuranceERM Climate and Sustainability Awards, kWh Analytics continues to pioneer in the renewable energy insurance sector. Learn more at or LinkedIn
