NEXTracker and Biosar Enter into Master Services Agreement (MSA) for Solar Projects in Brazil

191 MW of solar power in state of Minas Gerais scheduled for completion in Q3 2017

FREMONT, CA, NOV. 7, 2016 - NEXTracker™, a Flex company, announced today it has signed a master services agreement (MSA) to deliver its award-winning solar tracker technology to Biosar, part of Aktor Construction Group, and one of the largest engineering, procurement and construction (EPC) firms in the Western Hemisphere. The 191.5 MW solar power plant, Pirapora 1, is being constructed by Biosar for EDF Energies Nouvelles and Canadian Solar Inc. in the state of Minas Gerais. This MSA calls for NEXTracker to supply Biosar with advanced tracker technology, design consultation, installation and commissioning support. Project completion is anticipated in Q3 of 2017. The modules to be used in the Pirapora project are also produced by Flex and Canadian Solar, at a manufacturing facility in Sao Paulo, Brazil.[1]

"NEXTracker is thrilled to be working with Biosar, an international contractor that's installed a gigawatt of projects worldwide," said NEXTracker CEO Dan Shugar. "Thanks to Flex's Brazil-based manufacturing and operational presence, NEXTracker is well-positioned to meet the growing high-volume demand for our single-axis trackers. We're seeing that project financing in Brazil is working and truly supporting the growth of the renewable energy industry. In addition to serving this important market, we're delighted to be contributing to the Brazilian economy by spurring the creation of new solar jobs."
"NEXTracker's deep solar experience and technological market leadership are an ideal fit for new solar deployments in Brazil - a nation that has set very ambitious PV deployment targets," said Aris Polychronopoulos, General Manager of Biosar. "NX Horizon is not only FINAME-compliant, which is essential for Brazil solar market readiness - its advanced product features, quality and reliability maximize energy yield and reduce both installation and operating costs for our customers' projects. NEXTracker is the perfect partner, thanks to its local Brazil presence and the strong financial backing of its corporate parent, Flex."
The Pirapora 1 project is one of the largest solar projects in Brazil and one of the few utility-scale projects to meet the FINAME accreditation criteria of the Brazilian Development Bank (BNDES). BNDES streamlines financing for projects that incorporate products compliant with FINAME's local content and manufacturing requirements. Manufactured locally, NEXTracker NX Horizon™ is FINAME-compliant; its materials and components are manufactured and tested for quality assurance at a Flex facility in Brazil.
NEXTracker's Brazil presence, co-located at Flex's manufacturing center in Sorocaba, São Paulo - and supported by over 9,000 Brazilian employees - is now supplying its advanced solar trackers to developers and EPCs throughout the country. Once completed, the Pirapora 1 project [2] will generate 391,263 MWh per year and contribute towards Brazil's goal of obtaining 23% of its energy from renewable sources by 2030.
In 2015, Brazil's federal energy planning authority (EPE) recently doubled its forecast for installed photovoltaic capacity [3] to 7GW by 2024, owing to the country's initial solar auction results. BNDES' FINAME accreditation encourages companies to service the region with local products, which creates more availability and scalability for parts, inventory and technical support.
NEXTracker's balanced design, deployment, installation and commissioning support are ideal for distributed generation solar deployment worldwide. The company's trackers feature fewer foundations and assembly points, helping to mitigate geotechnical risk and accelerate project construction schedules. With over 5GW of tracker systems delivered worldwide to date, NEXTracker's PV system technology, paired with Biosar's success as leading EPC, will help accelerate solar deployment in Brazil - and around the world. Watch this VIDEO to view NX Horizon in action in South America.

About NEXTracker
NEXTracker, a Flex company, advances the power plant of the future with solar tracker innovations that increase performance and reduce costs for all size power plants. As the #1 single-axis tracker supplier worldwide with over 5GW of tracker shipments, NEXTracker is globally recognized for delivering the most advanced photovoltaic solutions for 100s of projects across five continents. Headquartered in the San Francisco Bay Area, the Company has offices in China, India, Latin America, and Australia. For more information, visit: NEXTracker.com and follow the Company on Twitter @NEXTracker.

About Biosar
Biosar, a global construction firm, offers integrated solutions for design, supply, construction and operation and maintenance of medium and large-scale PV systems. Biosar is a member of the largest construction group in Greece, Aktor, an international highly diversified company focused on Infrastructure, Building, Industrial, MEP, EPC and Concession Contracts, Facility and Project Management. Biosar has a total installed capacity of one Gigawatt as of 2016, making the Company one of the most successful international solar energy sector firms.

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