Agreement emphasizes partners’ shared commitment to support US manufacturing and promote lower-carbon production processes
Fremont, Calif. and Nashville, Tenn., May 24, 2022 – Silicon Ranch, one of the nation’s largest independent power producers, and Nextracker LLC., the leading provider of intelligent, integrated solar tracker and software solutions, today announced a master supply agreement (MSA) to deliver 1.5 gigawatts (GW) of Nextracker’s industry-leading solar tracker technology to Silicon Ranch projects through 2024, with options to expand as Silicon Ranch’s portfolio grows.
The MSA represents the latest milestone in the long-standing strategic relationship between two best-in-class solar businesses. The agreement includes a shared commitment by both companies to increase domestic supply and promote lower-carbon production processes. The emphasis on securing American-made product—using US steel supply—enables Silicon Ranch to support US manufacturing and job creation, improve the carbon footprint of its supply chain, and reduce volatility and logistics risks.
“Despite severe disruption to global supply chains and other pressures facing the solar industry, Silicon Ranch remains committed to maintaining our 100% track record for successful project delivery,” said Reagan Farr, Silicon Ranch Co-Founder and CEO. “This agreement with Nextracker not only helps us keep our promises to our customers, but also enables us to decarbonize our supply chain and support additional investments in American manufacturing. We have grown our business through the power of collaborative partnerships, and we are thrilled to expand our relationship with Nextracker as we accelerate our growth strategy across the US.”
“We are so impressed with Silicon Ranch’s differentiated development model which exemplifies community engagement, and win-win solutions for ranching and agriculture to benefit from solar, not only financial investors selling power,” said Dan Shugar, Nextracker Founder and CEO. “We have listened to Silicon Ranch’s needs and modified our products to add more value to their applications. Connecting their demand to more domestic steel and manufacturing capacity results in more jobs with cleaner steel and optimized logistics.”
“Designing the best possible power plant—wherever our customers need energy—is crucial to Silicon Ranch’s mission and core values, and to do so we maintain consistent feedback loops with proven partners like Nextracker in an effort to advance robust designs and industry standards,” said Nick de Vries, Silicon Ranch SVP of Technology and Asset Management. “Nextracker’s recent launch of the NX Horizon-XTR™ is the latest output of our collaboration, as this technology yields a smarter, more streamlined way to build solar on varied terrain, allowing Silicon Ranch to deliver high-quality solar projects and remain good stewards of the land at the same time.”
Both companies have recently announced additional commitments to increase domestic manufacturing and lower the carbon impact of production:
• In April, Silicon Ranch announced an agreement with First Solar to supply 4 gigawatts of advanced, responsibly-produced thin film solar modules, enabling Silicon Ranch to improve the carbon footprint of its module supply while supporting additional investment in US manufacturing capabilities.
• Over the last two months, Nextracker commissioned a new manufacturing facility in Texas, and another in Phoenix. These facilities will further domestic solar tracking system supply security by increasing its domestic steel procurement and expanding its domestic manufacturing with dedicated solar tracker production facilities to serve solar power plants throughout the southern US.
Nashville-based Silicon Ranch pioneered utility-scale solar in the Southeast with the first large-scale solar projects in Tennessee, Georgia, Mississippi, Arkansas, and Kentucky. The company has successfully commissioned every project it has contracted since its inception and has further distinguished itself through its commitment to own and operate each project in its portfolio for the long term. Today Silicon Ranch owns, operates, and maintains more than 150 solar generating facilities in 15 states from New York to California. Earlier this year, Silicon Ranch completed a $775 million equity raise led by Manulife Investment Management.
Nextracker is the leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. Our products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. With over 50 gigawatts shipped worldwide, Nextracker leads the solar industry with solar tracker technologies that optimize and increase energy production while reducing costs for significant plant ROI. For more information, please visit Nextracker.
About Silicon Ranch Corporation
Founded in 2011, Silicon Ranch is a fully integrated provider of customized renewable energy, carbon, and battery storage solutions for a diverse set of partners across North America. The company is one of the largest independent power producers in the country, with a portfolio that includes more than four gigawatts of solar and battery storage systems that are contracted, under construction, or operating across the U.S. and Canada. Silicon Ranch owns and operates every project in its portfolio and has maintained an unblemished track record of project execution, having successfully commissioned every project it has contracted in its history. In recognition of its holistic approach to land management, which the company has trademarked Regenerative Energy®, Silicon Ranch was named 2020’s “Most Forward-Thinking” company by Solar Power World. In 2021, Silicon Ranch acquired Clearloop, which helps businesses of all sizes reclaim their carbon footprint with a direct investment in building new solar projects while expanding access to clean energy. To learn more, visit siliconranch.com, regenerativeenergy.org, and clearloop.us.