Nextpower Inc. (Nasdaq: NXT, formerly Nextracker) and Abunayyan Holding have completed the formation of a joint venture, Nextpower Arabia, which will be headquartered in Riyadh, Saudi Arabia. The collaboration aims to accelerate the deployment of utility-scale solar power plants across the Middle East and North Africa (MENA) region, supporting renewable energy transformation and Net Zero targets. The partners plan to invest approximately $88 million over the next two years to build a state-of-the-art manufacturing facility in Jeddah, expected to open in Q2 2026. The facility will have a manufacturing and supply chain capacity of up to 12 GW per year and is anticipated to create up to 2,000 jobs in the Kingdom.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. NextPower Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20260111848469) on January 12, 2026, and is solely responsible for the information contained therein.