Nextracker Increases Annual Manufacturing Capacity In India To 10 GW The Nasdaq-listed solartech company already has over five gigawatts of systems under fulfillment in the country
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Nextracker, a provider of solar tracker and software solutions, used in utility-scale and distributed generation solar projects, announced it has contracted 10-gigawatt (GW) annual capacity of domestic manufacturing in India. The products enable solar panels in utility-scale power plants to follow the sun's movement and optimize plant performance.
Aligned with the government's Make in India initiative, Nextracker is producing its solar tracker systems with over 80 per cent domestic content for utility-scale power generation projects in India. Nextracker has collaboration with eleven manufacturing suppliers with thirteen factories located across India, employing almost 2,000 people. The company is currently focused on working with its existing capacity,however, it might look into expansion as per requirement. From India Nextracker exports to four continents.
"Nextracker has firmly established its presence in India's vibrant renewable energy sector,with over five gigawatts of systems under fulfillment or operational," said Dan Shugar, Nextracker founder and CEO. "As India transitions from coal-based power and sets its sights on achieving over 64 per cent non-fossil fuel-based capacity by 2030, we are committed to serve with the highest performing solar power systems to advance the nation's goals for domestic content and decarbonization."
With a favorable manufacturing landscape, availability of raw materials, logistics, infrastructure, workforce and government's thrust on renewable energy, India is emerging as a leading market for Nextracker.
Nextracker has partnered with prominent EPC companies such as Sterling and Wilson Renewable Energy, Amara Raja Infra Private Limited, and Rays Power Infra, as well as established developers such as NTPC. The company has ongoing solar power project deliveries and construction occurring in several regions including Karnataka, Gujarat, and Rajasthan. The company's annual revenue stands at $1.9 billion in FY23.
