U.S. stocks rise on Fed cut bets; earnings continue to flow
Investing.com -- T1 Energy Inc. (NYSE:TE) stock soared 26% while Nextracker (NASDAQ:NXT) shares rose 3.5% after the companies announced a strategic framework agreement for solar panel frames.
The multi-year deal, valued at over $75 million, will see Nextracker supply its patented steel module frame technology for T1 Energy’s new 5-GW G1_Dallas solar manufacturing facility. The agreement targets multi-gigawatt solar module frame supply over several years.
The partnership aims to accelerate the transition from imported aluminum frames to made-in-USA frames using locally manufactured specialty steel. Most solar frames are currently produced with extruded aluminum and imported from Asia.
"With potential for surging demand from data centers and AI infrastructure, the U.S. needs to establish critical energy supply chains built on domestic capacity and industrial expertise. This is exactly what T1 and Nextracker are doing, together," said Daniel Barcelo, Chairman and CEO of T1 Energy.
To support this initiative, Nextracker plans to increase its existing U.S. steel frame capacity in the Midwest with additional manufacturing lines in Texas, creating new jobs. This would add to Nextracker’s existing Texas footprint, which includes more than a dozen manufacturing partners producing key solar tracker components.
The companies expect the steel frames to be more durable and less exposed to tariff and global supply chain risks compared to traditional aluminum frames.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.