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NASHVILLE - Nextpower (NASDAQ:NXT) announced Wednesday the opening of an expanded Southeast regional hub in Nashville, Tennessee, along with a significant increase in its U.S. steel fabrication capacity for solar trackers.
The company has added a new fabrication line at MSS Steel Tubes USA’s Memphis facility, doubling its manufacturing capacity for solar tracker systems used in utility-scale power plants across the Southeast. The expansion is expected to increase the workforce from 120 to 170 skilled jobs as production ramps up.
The new Nashville location includes a Remote Monitoring Center that connects local engineers to Nextpower solar tracker projects worldwide.
"This new U.S. manufacturing line with our partner MSS not only doubles our Memphis factory production capacity for solar trackers, but it also helps our customers scale projects faster, brings new American jobs, and strengthens our supply chain," said Dan Shugar, founder and CEO of Nextpower.
The Southeast added 5 GW of solar capacity in 2024, bringing the region’s total to nearly 28 GW, according to the Southern Alliance for Clean Energy. The region is projected to reach 54 GW by 2030.
Nextpower’s expanded fabrication capacity will support utility-scale solar power plants across eight southeastern states, including projects developed by Tennessee-based Silicon Ranch Corporation.
"In our first 15 years, Silicon Ranch installed more than 4 gigawatts of solar energy capacity, and we will double that figure over the next three years," said Reagan Farr, Silicon Ranch co-founder and CEO.
MSS Steel Tubes USA, a subsidiary of Portugal-based Metalogalva Group, opened its first U.S. production facility in Memphis in 2023 and has partnered with Nextpower since 2015.
The announcement was made during a ribbon-cutting ceremony at Nextpower’s new Nashville office attended by local officials and industry representatives, according to the company’s press release.
In other recent news, Flex Ltd. reported its second-quarter earnings for fiscal year 2026, surpassing analyst expectations with an adjusted earnings per share of $0.79, compared to the forecast of $0.75. The company also reported revenue of $6.8 billion, exceeding the expected $6.68 billion. KeyBanc Capital Markets responded by raising its price target for Flex to $75.00 from $70.00, maintaining an Overweight rating on the stock, citing data center growth as a contributing factor. Additionally, Flex has deployed a rack-level liquid cooling solution at the Equinix Co-Innovation Facility in Virginia, showcasing its direct liquid cooling capabilities. This installation includes technology from JetCool, a company under Flex specializing in liquid cooling solutions.
Meanwhile, Nextracker Inc. announced its rebranding to Nextpower, reflecting its expansion into a broader range of integrated energy technology solutions. The company plans to develop utility-scale power conversion systems, with initial shipments expected in 2026. This strategic move aims to establish a comprehensive technology platform for utility-scale solar power plants.
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