Nextracker Achieves 10 GW Solar Tracker Milestone in India
Company expands operations in India with new office and R&D facility to address rapid solar growth in the market
HYDERABAD, India, May 27, 2025--(BUSINESS WIRE)--Nextracker (Nasdaq: NXT), a global leader in advanced solar energy solutions, today announced that it has surpassed 10 gigawatts (GW) of solar tracker deployments in India—a major milestone reinforcing its market leadership and the country's accelerating solar adoption. In response to this growth, Nextracker is expanding its footprint with a new 80,000 sq. ft. office and research and development (R&D) facility in Hyderabad, reinforcing its long-term commitment serving customers throughout the region and India's clean energy future.
With 1.8 GW of projects added in the last quarter alone, Nextracker's India portfolio now totals over 10 GW, underscoring strong momentum in solar adoption. Recent project wins include a 305 MW project with ReNew in Anantapur, along with 1.5 GW of projects through partnerships with key EPCs (engineering, procurement, and construction companies) across the country—highlighting Nextracker's expanding presence in India's high-growth solar regions.
Speaking on the partnership with Nextracker for the Anantapur project, Sanjay Varghese, Group President – Solar Projects & Manufacturing, ReNew, said, "We welcome Nextracker as a partner in supporting our solar projects. As we continue to expand our footprint in renewable energy, such collaborations help in driving project efficiency and contributing to the sector's broader goals."
To further strengthen its presence in the world's third-largest solar power market, Nextracker inaugurated its largest office outside the United States. The new Hyderabad hub integrates R&D, testing, and workforce development under one roof, featuring a 13-acre Center for Solar Excellence (CFSE) cutting-edge R&D and testing laboratory. Supported by a USD $1 million investment, the CFSE is dedicated to advancing local solar technology and training in India.
Building on its existing workforce of over 400 employees in India, Nextracker is accelerating its hiring efforts across engineering, manufacturing, and customer support. The Hyderabad facility will also focus on skill development initiatives to nurture local expertise in advanced solar technology and project execution.
Under the 'Make in India' initiative, 95% of Nextracker's tracker components used in India are manufactured domestically. This localization supports supply chain resilience, energy security, and technology localization, enabling Indian solar developers to access industry-leading, climate-resilient solutions tailored to the country's unique energy landscape and conditions.
Rajeev Kashyap, senior vice president and managing director, Nextracker (Middle East, Africa, and India) said, "This region is one of the world's fastest-growing solar markets, and our Hyderabad expansion reflects our deep commitment to supporting that growth. With 10 GW of projects commissioned or under delivery, we are equipping developers with best-in-class technology optimized for the country's diverse needs, while investing in local talent, infrastructure, and innovation to meet the country's renewable energy goals."
"Nextracker's investment in advanced manufacturing is not only a significant milestone for the company, but also an important moment for India's broader renewable energy ecosystem," said Subrahmanyam Pulipaka, CEO, National Solar Energy Federation of India (NSEFI). "This kind of technology-driven, future-forward collaboration exemplifies what we need to achieve our national clean energy goals. By localizing the production of intelligent solar tracking systems and integrating advanced automation with domestic expertise, Nextracker is making a meaningful contribution to India's Atma Nirbhar Bharat vision in the renewable energy sector."
"At NSEFI, we believe India's next phase of solar growth will be driven by innovation, resilience, and self-reliance," said Pulipaka. "Partnerships like Nextracker's—linking global technology with domestic manufacturing—are key to scaling our energy transition while ensuring quality and sustainability. We commend their leadership and look forward to supporting more such initiatives aligned with India's renewable energy targets."
About Nextracker
Nextracker is a global leader of advanced solar technology solutions used in power plants around the world. Our technology platform enables solar power plants to follow the sun's movement across the sky and optimize performance. With products operating in more than forty countries worldwide, Nextracker offers solar tracker technologies and innovative solutions that accelerate solar power plant construction, increase performance, and enhance long-term reliability. For more information, visit Nextracker.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements relating to our expectations with respect to our operations in India and the adoption of renewable energy, including solar power, in India. These forward-looking statements are based on various assumptions and on the current expectations of Nextracker's management. These statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements, including without limitation, changes in the demand for solar energy in India, competition from conventional and other renewable energy sources, changes in the global trade environment, including the imposition of import tariffs or bans, and changing business conditions in our industry or markets overall and the economy in general. Other risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements are also described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Nextracker's most recent Annual Report on Form 10-K and other documents that Nextracker has filed or will file with the Securities and Exchange Commission. There may be additional risks that Nextracker is not aware of or that Nextracker currently believes are immaterial that could also cause actual results to differ from the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextracker assumes no obligation to update these forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250526286083/en/
Contacts
Media: Ishank Garg (in India on behalf of Nextracker) Ishank.garg@adfactorspr.com
Sowmya Sriram (India)ssriram@nextracker.com
Brandy Lee (Global)blee@nextracker.com
Investor Relations: Sarah LeeInvestor@nextracker.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
29 minutes ago
- Bloomberg
Hong Kong Pensions Plan to Cut Treasuries If US Loses AAA Rating
Hong Kong's pension fund managers have formed a preliminary plan to sell down their Treasury holdings within as soon as three months if the US loses its last recognized top credit rating, according to people familiar with the matter. Industry groups including the Hong Kong Investment Funds Association and the Hong Kong Trustees' Association discussed the proposal with the pensions regulator on Wednesday, the people said, asking not to be identified as the meeting was private.
Entrepreneur
32 minutes ago
- Entrepreneur
Pixxel Secures Second Defence Grant to Develop Advanced Space Imaging Payloads for IAF
The iDEX scheme, under the Ministry of Defence, is designed to spur the development of prototypes and advanced technologies by startups and small enterprises You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Pixxel, a space technology company headquartered in Bengaluru, has secured a second grant under the Indian Ministry of Defence's iDEX (Innovations for Defence Excellence) initiative, aimed at accelerating indigenous innovation for the country's defence forces. The new SPARK Grant—awarded to its subsidiary, SpacePixxel Pvt Ltd—will support the development of hyperspectral and Mid-Wave Infrared (MWIR) payloads for the Indian Air Force. The award, part of the iDEX DISC 8 Challenge 6.2, marks a continued collaboration between Pixxel and the Indian defence ecosystem. It builds on the company's earlier selection under the iDEX Prime (Space) Mission DefSpace Challenge in 2023, which focused on miniaturised multi-payload satellite development. Pixxel, known for constructing what it claims is the world's highest-resolution hyperspectral satellite constellation, said it will now focus on delivering security-grade imaging technology designed for both airborne and space-based platforms. These next-generation payloads are expected to enhance India's remote sensing capabilities, enabling high-precision monitoring and analysis in strategic scenarios. "This grant is a proud milestone in our journey to put India at the forefront of next-generation aerospace innovation," said Awais Ahmed, founder and CEO of Pixxel, in a statement. "We're honoured to deepen our partnership with the Government of India and advance our mission of building cutting-edge space infrastructure right here at home." Hyperspectral imaging technology captures detailed spectral data across hundreds of wavelengths, offering advantages in detecting materials, identifying terrain changes, and monitoring environmental or military assets. The addition of MWIR capability would allow for enhanced thermal imaging, critical in low-light or night-time operations. The iDEX scheme, under the Ministry of Defence, is designed to spur the development of prototypes and advanced technologies by startups and small enterprises. Pixxel's repeated selection for support highlights the government's growing trust in the company's technical expertise and manufacturing capabilities. With three satellites already in orbit and more expected to launch, Pixxel has been steadily expanding its footprint in the space-based Earth observation sector. Its in-house platform, Pixxel Aurora, offers users tools to visualise and analyse hyperspectral data for a range of applications. However, the company has remained focused on its core objective: developing a real-time, high-resolution monitoring system for the planet with dual-use potential for civilian and defence stakeholders.
The Verge
33 minutes ago
- The Verge
Samsung's fridges now recognize family members by voice
Samsung's latest smart fridges now support multi-voice recognition powered by the company's Bixby assistant, which can be used to bring up personalized information on the built-in smart displays based upon which member of a household is speaking. Voice identification in smart home tech is nothing new, but with no successful Samsung-branded smart speaker line of its own, connected appliances are Samsung's only real route to apply that kind of personalization. The main perk is that the fridge will be able to display your calendar or personal photo gallery using only voice commands. You'll also be able to ask the fridge to trigger an alarm on your phone, useful if you can't find it. The update may be more helpful for those who are hard of vision, as it will automatically change the fridge screen's display mode to match settings like color inversion or grayscale that have been applied on your phone. Samsung is also adding a new way to activate Bixby on its fridges. In addition to tapping the Bixby icon or using voice commands, you'll now be able to double tap on the fridge's display while it's off to bring the beleaguered voice assistant —no longer the default even on Samsung's own phones — to life. The Voice ID feature and double-tap gesture are arriving now in an update for Samsung's Bespoke AI fridges with Family Hub (the company's term for its larger smart home screens), starting with the 2025 models, and will later roll out to appliances with the smaller AI Home displays.
