What's Happening?
Abunayyan Holding and Nextracker have formed a joint venture, Nextracker Arabia, to accelerate solar energy deployment in Saudi Arabia and the MENA region. Headquartered in Riyadh, the venture will focus
on localizing manufacturing, sales, and engineering to support Saudi Vision 2030 and enhance clean energy infrastructure. Nextracker Arabia will manage operations and assume ownership of Nextracker's existing Saudi manufacturing facility, aiming to produce integrated solar technologies for utility-scale and distributed generation projects.
Why It's Important?
This joint venture is pivotal for advancing solar energy in the MENA region, aligning with Saudi Arabia's goal of deploying 130 GW of clean energy by 2030. By localizing production and leveraging regional expertise, the venture supports economic growth and energy transition efforts. The collaboration between Abunayyan and Nextracker exemplifies the strategic partnerships necessary to achieve large-scale renewable energy goals, contributing to global sustainability efforts and positioning the MENA region as a leader in solar energy.
What's Next?
Nextracker Arabia is expected to officially launch in the first quarter of 2026, following the establishment of Saudi legal entities and completion of other conditions. The venture will continue to expand its solar projects, contributing to the region's growing solar capacity, which is projected to exceed 180 GW by 2030. The partnership will likely attract further investments and collaborations in the renewable energy sector, fostering innovation and technological advancements.
