Nextracker announced that it has adopted a new corporate identity, Nextpower™, signalling its transformation into a global provider of fully integrated energy-technology solutions. The new name reflects the company’s evolution from the world’s leading solar-tracking manufacturer into a broader platform offering an integrated portfolio of advanced technologies and services for utility-scale solar power plants.
Nextpower now provides a connected ecosystem that spans structural, electrical and digital solutions across the full lifecycle of advanced power plants—from design and construction to operation and maintenance. As part of its expanding technology platform, the company also revealed the development of a new line of large-scale power conversion systems (PCS), with first shipments expected in 2026.
“Our customers are looking for coherent, integrated solutions that install faster, deliver stronger performance, and operate more reliably throughout their lifetime,” said Dan Shugar, Founder and CEO of Nextpower.
“In recent years, we have implemented a consistent strategy to broaden our portfolio and build a comprehensive technology platform that delivers significant benefits across the solar value chain,” he added.
“Our new name reflects this transformation,” Shugar continued. “Nextpower builds on decades of leadership in solar tracking to create a market-leading integrated technology platform that supports the world’s most advanced clean-energy systems. We are now in a global electricity super-cycle, with solar power adding more capacity than any other energy source, at the lowest cost. As we expand into PCS, robotics and artificial intelligence, we are enabling solutions that meet the scale, reliability and complexity requirements of today’s utility-scale solar plants.”
As part of its Capital Markets Day, held today, Nextpower reaffirmed its outlook for fiscal year 2026 and presented its guidance for fiscal year 2027, along with long-term financial targets. These include projected revenues of USD 4.8–5.6 billion for FY2030, with around one-third expected to come from products and services outside the solar-tracking segment.
“Our multi-year financial objectives reflect our confidence in Nextpower’s growth trajectory and the strength of our business model,” noted Chuck Boynton, Chief Financial Officer. “We anticipate sustained revenue growth, stronger cash generation and continued investment in expansion, while maintaining healthy margins and a robust balance sheet through disciplined execution and operational efficiency.”
The rebrand comes at a critical moment for the global energy sector. Electricity demand is accelerating, driven by the rapid rise of AI and data-centre loads, electric transport and building electrification. According to the International Energy Agency (IEA), US data centres will consume more electricity than the country’s entire energy-intensive manufacturing sector combined by 2030. At the same time, solar energy has become the world’s lowest-cost and fastest-growing source of new electricity generation.
Governments worldwide are therefore emphasising the importance of local supply chains, an area where Nextpower has invested for more than a decade through domestic manufacturing of steel, electronics and components.
Nextracker also confirmed that it will formally change its corporate name to Nextpower Inc. The company will retain its Nasdaq ticker symbol NXT and continue operating under the same leadership team. Its full portfolio—including solar trackers, foundations, electrical balance-of-system (eBOS) equipment, advanced modular structures, robotics, software, performance-management systems and services—will now fall under the Nextpower brand.
With more than 150 GW of installed Nextpower systems worldwide, the company has maintained the No. 1 global market share in solar trackers for ten consecutive years. Revenues have risen from USD 1.9 billion in FY2023 to USD 3.4 billion in the twelve months to September 2025, reflecting continued global demand for its technology.
