Nextracker India Achieves 10 GW Annual Domestic Manufacturing Capacity to Serve India’s Rapidly Expanding Solar Power Market

Nextracker hits milestone of over 5 gigawatts (GW) of smart solar tracker systems with 80% local content for Indian utility-scale solar power generation

New Delhi, October 3, 2023 – Nextracker (Nasdaq: NXT), a leading global provider of intelligent solar tracker and software solutions, today announced the Company now has contracted for 10 GW per annum of local India manufacturing capacity. This is in line with the company’s focus to provide advanced locally sourced solar tracker technology solutions that optimize power generation as India steps up construction of new solar parks.

Aligned with the Government’s Make in India initiative, Nextracker is producing its solar tracker systems with over 80% domestic content for utility-scale power generation projects in India. Nextracker’s strong local presence is evident through its collaboration with eleven manufacturing suppliers with thirteen factories located across the country, and the creation of approximately 2,000 clean energy jobs, including over 200 Nextracker India employees. With this strategic undertaking, Nextracker is not only accelerating project execution timelines but also ensuring energy supply security, lower costs, local jobs, and economic development.

“Nextracker has firmly established our presence in India’s vibrant renewable energy sector, with over five gigawatts of systems under fulfilment or operational,” stated Dan Shugar, Nextracker founder and CEO. “As India transitions from coal-based power and sets its sights on achieving over 64% non-fossil fuel-based capacity by 2030, we are committed to serving our customers with the highest performing solar power systems to advance the nation’s goals for domestic content and decarbonization.”

About Nextracker

Nextracker is one of the leading providers of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Our products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. With over 75 gigawatts shipped worldwide, Nextracker leads the solar industry with solar tracker technologies that optimize and increase energy production while reducing costs for significant plant ROI. For more information, please visit Nextracker.