Nextracker Inc. ('Nextracker') provides solar technology platform used in power plants around the world.
The company's products enable 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.
The company has developed the next...
Nextracker Inc. ('Nextracker') provides solar technology platform used in power plants around the world.
The company's products enable 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.
The company has developed the next generation of solar trackers that enable rows to move independently, providing further benefits to customers. The company's intelligent independent row tracking system incorporates proprietary technology that produces more energy, lowers operating costs, is easier to deploy, and has greater reliability compared to linked row, other independent tracker products, and fixed-tilt systems. The company's TrueCapture energy yield management system addresses power production shortfalls due to the variability of real-world site conditions.
The company had shipped more than 130 GW of its solar tracker systems as of March 31, 2025, to projects on six continents for use in utility-scale and distributed generation solar applications. The company's customers include engineering, procurement, and construction firms ('EPCs'), as well as solar project developers and owners. The company is a qualified, preferred provider to some of the largest solar EPC firms and solar project developers and owners in the world.
Solutions
The company provides intelligent, integrated solar tracker and energy yield management systems, foundations, and advanced sensor capabilities solutions that use an innovative design approach to enable new capabilities and to expand the viability of trackers across a broader range of topographical and climate conditions.
Solar tracking solution portfolio
NX Horizon is the company's flagship solar tracking solution. NX Horizon's smart solar tracker system delivers what is considered to be an attractive levelized cost of energy ('LCOE') and has been deployed more than any other tracker in its portfolio. NX Horizon's system mounts a single line of panels along a tracker row. NX Horizon's reliable self-powered motor and control system, balanced mechanical design, and independent-row architecture provide project design flexibility while lowering operations and maintenance costs. With its self-aligning module rails and vibration-proof fasteners, NX Horizon can be easily and rapidly installed. The self-powered, decentralized architecture allows each row to be commissioned in advance of site power and is designed to withstand high winds and other adverse weather conditions.
During fiscal year 2025, the company executed more than 30 meaningful improvements to NX Horizon, addressing critical needs around cost, compatibility, speed of installation, and long-term reliability. NX Horizon combines several key features that improve performance, reliability, and operability compared to competing designs.
Independent rows: Over the last decade, the substantial decrease in the cost of electric motors and control systems has helped accelerate the adoption of independent row tracking systems over linked-row architectures. In addition to the ability to rotate each row individually, independent rows provide many benefits, such as increased redundancy and therefore lower risk of single points of component failure, site layout flexibility, including reduced grading requirements, ease of installation, and ease of maintenance and operations, including unrestricted vehicle access.
Mechanically-balanced rows: The company's patented, mechanically-balancing rows have several benefits, including greater range of motion, less energy required to rotate the panels than competing products, and reduced component wear and tear. Mechanical balancing also enables greater elevation of solar panels above a central support beam (torque tube), significantly improving energy production in bifacial applications by allowing more reflected light to reach the back side of the panel. Bifacial panels capture sunlight on both their front and back sides and are frequently adopted in utility-scale projects.
Self-powered: The company's tracker design includes the placement of a small solar panel on each row that powers the trackers, eliminating the need for more expensive AC power. In addition, the company's self-powered controller also enables advanced sensor capabilities by collecting and distributing real-time sensor data.
Terrain following capability: Unlike typical designs that constrain tracker rows to a plane, Nextracker's NX Horizon-XTR and NX Horizon XTR-1.5 variants conform to a site's natural terrain undulations. NX Horizon-XTR eliminates or reduces the cost and impact of cut-and-fill earthworks, without complex joints or additional components, reduces foundation material, eases permitting, and accelerates project construction schedules while minimizing environmental impact and reducing project risk. NX Horizon-XTR's ability to significantly reduce earthwork allows many otherwise infeasible sites to become economically viable for solar trackers. Less earthwork lowers upfront costs and improves scheduling while mitigating environmental impacts to topsoil, natural habitats, native vegetation, and natural drainage features.
Embedded sensors and connectivity: The company's embedded sensors and wireless mesh network with real-time connectivity enable visibility and system monitoring of critical components and remote maintenance, and in certain situations, reduce yield loss by enabling real-time adaptation to site conditions.
Operation and maintenance efficiency: The company's highly engineered fasteners replace standard nuts and bolts. The company's fasteners increase long-term reliability and eliminate the need for periodic inspection and maintenance required by systems held together with nuts and bolts.
Sealed, elevated drive system: All the company's trackers have sealed gears, motors, and controllers, which are typically elevated three or more feet above the ground, helping to protect the system against dust, flooding, and ground accumulations of snow and ice.
The company has introduced several additional product innovations to complement its core NX Horizon tracker.
In March 2022, the company launched NX Horizon-XTR, its terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain. NX Horizon-XTR conforms to the natural terrain of the site, reducing or eliminating cut-and-fill earthworks and reducing foundation lengths. These benefits help accelerate construction schedules and make trackers more economically and environmentally viable on difficult sites.
NX Horizon Hail Pro leverages the inherent features of NX Horizon's smart solar tracking system, including its balanced design, integrated UPS (uninterruptible power supply), and independent-row architecture. Hail Pro adds automatic stowing using weather service information, hail readiness services, and where desired, Hail Pro-75 for stowing at up to 75 degrees for locations subject to extreme hail. In fiscal year 2025, the company added automated functionality that enables intelligent, site-specific protection against severe weather events, including in the event of a grid outage. These enhancements underscore the company's commitment to mitigating climate-related risks for asset owners and operators.
In April 2024, the company launched NX Horizon Low Carbon, the industry's first solar tracker solution with a reduced carbon footprint, which means less embodied carbon dioxide equivalent greenhouse gas emissions compared to the company's traditional offshore-produced tracker. Initially offered in the U.S. market, its flagship NX Horizon solar tracker system is offered with locally sourced materials, including the use of electric arc furnace (EAF) manufacturing, recycled steel, and logistics strategically located near project sites. Third-party verified Life Cycle Assessment (LCA) methodology provides its customers with documentation on reductions in carbon footprint, land use, water consumption, and other metrics associated with the entire lifecycle, including sourcing, manufacturing, delivery, and operation of solar trackers.
TrueCapture
TrueCapture, NX Horizon's energy yield management system, addresses power production shortfalls due to the variability of real-world site conditions. While linked-row tracking systems angle all rows in an identical direction facing the sun, TrueCapture leverages NX Horizon's independent-row architecture and advanced sensors, and adds as-built topographical calibration and real-time site conditions data to ensure the energy gain entitled by tracking is delivered for all in-field conditions. Validated by leading independent engineering firms, TrueCapture is proven to effectively account for topography, row-to-row height variations, and diffuse irradiance conditions, typically reducing energy losses between 1-2%.
Zonal Diffuse expands on TrueCapture's yield management and is a tracking function that mitigates energy yield loss during rapidly changing irradiance conditions. This technology includes additional high spatial resolution sensing that enables the trackers to efficiently adapt to variations in cloud cover across the entire power plant. Zonal Diffuse complements TrueCapture's terrain-adaptive row-to-row tracking mode and Split Boost, an energy yield management feature for half-cell modules.
NX Foundation Solutions
In fiscal year 2025, Nextracker expanded its portfolio by launching NX Foundation Solutions, a comprehensive suite of solar foundation technologies and services designed to optimize solar project installations across diverse soil conditions. This includes the introduction of NX Anchor, a solar tracker foundation system designed to facilitate solar project development in challenging soil conditions, such as soft, expansive, and frost-heave soils. NX Anchor and other NX Foundation Solution offerings help streamline project timelines, reduce costs, and improve safety while minimizing environmental impact, particularly on challenging terrain. Moreover, NX Foundation Solutions was further strengthened through the acquisitions of Ojjo, Inc. ('Ojjo') and Solar Pile International's ('SPI') foundation businesses. NX Foundation Solutions allow trackers to be installed in a wider range of locations, such as those with hard rock soil. The solution set incorporates a full suite of services, including geotechnical reviews, foundation design, equipment selection, and installation support, along with advanced installation equipment like the NX Truss Driver.
Risk Mitigation and Operability Solutions
The company also offers solutions to improve the resilience and operability of its tracking solutions. These solutions are licensed on a separate basis and integrated with the company's tracker products, leveraging the embedded sensors, communication, and control capabilities in these solutions. When the company develops new system features, it can provide these capabilities to both its customers' existing installed fleet and new projects. Through innovation, the company has been able to improve solar plant resiliency and operability over time, providing differentiated benefits to its customers.
NX Navigator assists solar power plant owners and operators in monitoring, controlling, and protecting their solar projects. An intuitive dashboard helps plant managers to precisely visualize real-time operational data at the site, subfield, and individual tracker levels. In addition, NX Navigator's safety features include single-click Hurricane/Typhoon Stow and Hail Stow modes, both of which quickly command solar trackers to rotate to maximum tilt positions towards user-selected stow direction, in response to inclement weather, and significantly reduce the risk of damage to the solar panels.
Electrical Balance of Systems (eBOS) Solutions
In May 2025, the company announced the acquisition of the U.S.-based Bentek Corporation ('Bentek'), an industry pioneer and manufacturer of electrical infrastructure components that collect and transport electricity from solar panels to the power grid. The acquisition combines Bentek's engineered, pre-assembled eBOS solutions with Nextracker's world-class solar tracker platform, providing customers streamlined procurement and project logistics from a single source. The eBOS products will be offered as standalone, industry-compatible components for both trackers and fixed tilt systems, as well as in formats optimized for use in integrated NX Horizon system solutions. Bentek's U.S. fabrication footprint further enhances Nextracker's strong domestic supply chain position. The acquisition continues Nextracker's strategy of incorporating complementary technologies into Nextracker's market-leading tracker platform to accelerate solar power plant construction, increase performance, and enhance long-term reliability.
Customers
The company's large and diversified customer base consisted of over 240 active customers across more than forty countries as of March 31, 2025. Customers and owners of the company's products include many of the largest and most successful companies in the industry. The company's EPC customers often build multiple projects at a time for their customers, and purchasing decisions are typically made on a per-project basis. A small number of customers deploy the company's products for ground-mounted distributed generation projects, such as powering the customers' buildings or facilities. For fiscal year 2025, the company derived 69% of its revenue from projects in the U.S. and 31% from projects in international markets.
Sales and marketing
The company leverages a variety of techniques to build awareness of and communicate its value propositions, including comprehensive digital marketing campaigns, independent studies, white papers, training programs, thought leadership seminars, and participation in industry conferences and events. The company sells systems both on an individual project basis and through long-term master supply agreements.
The company's collaborative, full-project-lifecycle approach to selling involves working closely with developers, independent engineers, EPCs and their subcontractors, project operators, and owners, as well as operations and maintenance providers. The company works collaboratively with customers and stakeholders as a strategic partner through all stages of the project lifecycle to ensure success, including collaborating on site design/layout, wind studies, geotechnical analysis, and value engineering. Once the sale is completed, the company's project management teams continue engaging with the customer through installation and commissioning phases to ensure smooth delivery and project execution. The company's asset management team then provides ongoing technical and general customer support for the life of the project, offering system monitoring, training programs, spare parts management, and other maintenance services. This approach creates a broad array of touchpoints with the customer organization, strengthening loyalty in the relationship that drives repeat business and entry into new markets with the customer.
The company has regional sales leaders based in each market that are supported by local project engineering teams and other specialists to help customers evaluate its solutions and optimize system designs in the context of local market characteristics. Due to the critical role of trackers in utility-scale power plants, tracker procurement is based on a complex set of buying criteria, with input often coming from multiple stakeholders. As a result, the company frequently engages with multiple parties in the sales process, including the direct purchaser, such as a developer or EPC, and other stakeholders, such as the long-term plant owner.
The company's globally diversified operational footprint places sales, engineering, and key product and project support functions in close proximity to major tracker markets around the world. This enables the company to ensure customer success throughout the project lifecycle, from sales and project design engineering leveraging local expertise to optimize system designs for regional requirements, through deployment and commercial operation. The company is well-positioned to provide timely commercial and technical support with personnel in the local time zone and within short travel distances to customer and project sites.
In the United States, the company maintains dedicated sales staff principally in California and Tennessee, providing coverage across an expansive geographic market. The company's international sales representatives are located in Spain (Madrid and Seville), Australia (Manly), Mexico (Mexico City), India (Hyderabad), the United Arab Emirates (Dubai), the Kingdom of Saudi Arabia (Riyadh), and Brazil (São Paulo). Sales employees in Madrid, Manly, Mexico City, Hyderabad, and São Paulo are supplemented by regional project engineering and project management staff with significant local expertise.
Research and development
The company's research and development expenses totaled $79.4 million for fiscal year 2025.
Intellectual property
As of March 31, 2025, the company had 262 issued U.S. patents, 385 granted non-U.S. patents, and 578 U.S. and non-U.S. patent applications pending, including provisional patent applications pending in the U.S. and pending applications across the company's product portfolio. The company's U.S. issued patents are scheduled to expire between 2025 and 2049.
Competition
The company's principal competitors are Array Technologies, GameChange Solar, PV Hardware, Arctech Solar, TrinaSolar Co., Ltd., and Shoals Technologies Group.
History
Nextracker Inc., a Delaware corporation, was founded in 2013. The company was incorporated in 2022.
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