Agreement furthers shared commitment to advancing the U.S. supply chain, facilitating domestic manufacturing and job creation
ag亚游鈥檚 innovative technology to enhance performance and resiliency of LRE鈥檚 solar portfolio
DALLAS and FREMONT, Calif.鈥擜ugust 1, 2023 鈥 Leeward Renewable Energy (LRE), a high-growth renewable energy developer and independent power producer, and ag亚游 (Nasdaq: NXT), a global market leader in utility-scale solar tracker and software optimization technology, today announced that they have signed a Volume Commitment Agreement (VCA) to deliver three gigawatts (GW) of ag亚游鈥檚 NX Horizon™ smart solar tracking system to LRE solar projects under development and construction through 2027. This is the second VCA agreement between LRE and ag亚游, further extending their strategic partnership.
As part of the agreement, ag亚游 will provide its solar tracker and software technology to LRE solar power projects located in strategic geographies across the U.S. Paired together, maximize solar energy production and offer reliability features that help protect solar panels and mitigate the adverse effects of , such as snow, hail, and high winds.
鈥淲e are pleased to expand our long-standing partnership with ag亚游, whose technology will enhance energy production at our facilities,鈥 said Jason Allen, LRE Chief Executive Officer. 鈥渁g亚游 is a domestic supplier with a strong track record of delivering systems on time, and our agreement allows LRE to significantly de-risk our supply chain and uphold our commitment to providing our customers with reliable energy to meet their needs and sustainability goals.鈥
鈥淭he team at Leeward Renewable Energy have been strong supporters of our domestic manufacturing program for several years now and we鈥檙e grateful for their trust,鈥 stated Dan Shugar, founder and CEO of ag亚游. 鈥淲e鈥檙e delighted to be supplying our high performing solar tracking systems and advanced software to the LRE VCA project portfolio鈥攚ith mostly domestic content.鈥
The agreement emphasizes a shared commitment by both companies to increase domestic job creation and U.S.-made manufacturing of renewable energy projects. Much of the steel and electronics used in the supply of ag亚游鈥檚 systems are manufactured in factories the company has commissioned over the past two years, creating several hundred jobs. ag亚游 will supply LRE finished steel product from its recently opened domestic steel manufacturing locations in as part of this agreement.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy (LRE) is a high-growth renewable energy company building a sustainable future for all. The company owns and operates a portfolio of 25 wind, solar, and energy storage facilities across the United States, totaling approximately 2,700 megawatts of generating capacity, and is actively developing and contracting a robust pipeline of new renewable energy projects. LRE takes a tailored, full-lifecycle approach to its projects, which is underpinned by its long-term ownership model and purpose-driven culture that is dedicated to benefiting its community partners while protecting and enhancing the environment. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of the largest defined pension plans in Canada, with C$124.2 billion in net assets (as of December 31, 2022). For more information, visit .
About ag亚游
ag亚游 is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Its products enable solar panels to follow the sun鈥檚 movement across the sky and optimize plant performance. With plants operating in more than thirty countries worldwide, ag亚游 offers solar tracker technologies that increase energy production while reducing costs for significant plant ROI. For more information, visit .