The name reflects the new approach to delivering a complete system rather than individual components, and that system will soon include Nextpower power conversion equipment.
Today, US-based Nextracker officially changed its name to Nextpower, Inc. to reflect the company’s evolution and expansion beyond the tracker business.
The move towards integration started with a wave of acquisitions, while the focus was still on trackers and the name The global top supplier for solar trackers for the tenth year in a row. The acquisitions include eBos, software, foundations, robotics and steel frames.
“Our customers want cohesive, integrated solutions that install faster, perform better and operate more reliably throughout their lifespan,” said Dan Shugar, founder and CEO of Nextpower. “Over the past few years, we have systematically executed a strategy to expand our portfolio and create a comprehensive technology platform that delivers significant benefits across the entire solar value chain.”
“Our new name reflects this transformation,” Shugar continued. “Nextpower builds on decades of leadership in solar tracking and is creating a leading integrated technology platform to support the world’s most advanced clean energy systems. The world is in an electricity supercycle and solar is the key driver, adding more capacity than any other source, at a lower cost. As we expand into power conversion systems (PCS), robotics and AI, we are enabling customer solutions designed for the scale, reliability and complexity of today’s solar power plants.”
The company invested more than $40 million to get this robotics and AI under his belt with OnSight Technology, SenseHawk IP and Amir Robotics. It brought a foundation system supplier on board when it acquired Ojjo for $119 million. It was taken over two months ago specialist in steel frames Origami Solar for $53 million.
The next step to becoming a fully integrated solar provider is energy conversion technology, and this too will be announced at the company’s Capital Markets Day at its headquarters in Fremont, California. The company reports that it has been developing domestic energy conversion technology internally for a number of years, and this is now being tested in customer pilots, with the aim of delivering at project level by 2026.
Nextpower recently appointed Jenya Meydbray as vice president, focusing on steel solar panel frames. In an upcoming one pv magazine USA In an interview, Meydbray described the way the solar industry is maturing to the point where companies can be suppliers of power plants rather than suppliers of individual components. The name Nextpower reflects that evolutionary step.
During Nextpower’s Capital Markets Day, Nextpower reaffirms its FY26 guidance and announces its FY27 outlook and long-term financial targets, including revenues of $4.8 billion to $5.6 billion in FY2030, with approximately one-third of revenue expected to come from sales of non-tracker products and services. The presentation and Q&A sessions will take place from 8:45 a.m. PT to approximately 12:40 p.m. PT and can be accessed through Nextpower’s investor relations websitewith an archived replay available after the event.
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