Nextpower and Abunayyan Holding have partnered to form a joint venture (JV), Nextpower Arabia headquartered in Riyadh, Saudi Arabia to support the deployment of utility-scale solar power projects across the Middle East and North Africa region.
In addition, the partners have announced plans to develop an advanced manufacturing facility in Jeddah to supply solar tracking systems, yield management solutions and control technologies for large-scale solar installations. The facility is being developed on a 42,000 square metre site and is currently under construction, with commercial operations expected to commence in the second quarter of calendar year 2026. Once operational, the facility is projected to support manufacturing and local supply chain capacity of up to 12 GW per year. Nextpower and Abunayyan Holding plan to invest around USD 88 million in the joint venture over the next two years through a combination of equity and public and private debt. The capital will be used to fund the manufacturing facility and expand technical and engineering operations.