Latest news with #OricheioPPCPtolemaida
Yahoo
07-07-2025
- Business
- Yahoo
Nextracker (NXT) Expands Market Lead with Major Greece Project
NEXTracker Inc. (NASDAQ:NXT) is one of the 10 best sustainability stocks to buy now. The company produces solar tracking systems that enhance the performance of utility-scale photovoltaic installations by allowing panels to track the sun throughout the day. Its NX Horizon platform has been deployed globally on over 100 GW of solar capacity (as of mid-2024), significantly increasing solar output without requiring additional land use. This contributes directly to lowering the levelized cost of solar energy. A panoramic view of a concentrated solar power plant swathed in bright sunshine. On June 25, Nextracker reported that it has been selected to supply its NX Horizon solar trackers for one of Europe's largest solar initiatives, the 550 MW Oricheio PPC Ptolemaida project in Western Macedonia, Greece. Developed on repurposed coal mine land and owned by PPC Renewables, the plant is now in its final construction phase and is expected to deliver nearly 1.8% of Greece's electricity annually once operational. This project is a key component of Greece's revised energy plan, which aims to achieve 82% renewable electricity generation by 2030. It will also support European efforts towards energy independence and emissions reduction. For Nextracker, the project will strengthen its growing presence in the European solar market, where it now holds the top market share, according to Wood Mackenzie. While we acknowledge the potential of NXT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Harvard University Stock Portfolio: Top 10 Stock Picks and . Disclosure: None.
Business Wire
25-06-2025
- 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.
