NEXTracker gets Brazil local content compliance

Facebook
Twitter
LinkedIn
Reddit
Email
NEXTracker's CEO Dan Shugar speaking with US Environmental Protection Agency administrator Gina McCarthy. Image: NEXtracker facebook page.

NEXTracker has received certification for compliance with Brazilian domestic content rules for its manufacturing operations, opening access to favourable credit lines for the company.

The firm, which topped the rankings for North American solar PV tracker sales in 2015 according to a report out from research firm IHS earlier this week, has established facilities in Brazil co-located with the premises of its recent new owner, manufacturing specialist Flextronics.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

NEXTracker said today that FINAME accreditation, a state programme that will allow the firm to receive local development bank credit lines, means production of its devices including the NX Horizon trackers comply with Brazilian Development Bank (BNDES) rules for local content and manufacturing processes. Under the programme, firms are eligible to receive a percentage of financing for capital goods purchasing of as much as 80%.

“Brazil represents a boundless new frontier for solar deployment. In addition to serving this important market, we’re delighted to be contributing to the Brazilian economy by adding new, high-quality solar jobs,” CEO Dan Shugar said, adding that the accreditation “solidifies our ability to deliver significant volumes” of trackers in Brazil.

NEXTracker established its Brazil operations last autumn

‘From nothing to US$300 million in less than two years’

In October, Nancy Pfund of DBL Partners, an investment firm focusing on only adding companies which have a positive social impact as well as healthy returns to its portfolio, said that it had achieved a “fantastic exit” from investing in NEXtracker when the company was sold to Flextronics.

Pfund said she already knew about the track record of NEXTracker’s CEO from a previous deal when Shugar sold Powerlight to SunPower in 2006. Pfund said DBL held NEXtracker for less than two years while the company’s value went from “nothing” to US$300 million in that time.

The profitable exit “was surprising to some people because it was a hardware deal and people are always saying, it’s all about financing, or software, or smart grid this, and I agree, it is about that, but it’s about everything,” said Pfund, who was one of SolarCity and Tesla’s early backers.

“I think you just have to kind of follow the cost curve and sometimes hardware is the right place to invest and I think people kind of forget about that.”

Read Next

July 7, 2025
GameChange Solar has announced plans to supply trackers for the 1GW second phase of the Abydos project in Egypt.
July 3, 2025
Renewable energy curtailment in Brazil is set to reach 8% across the country, and be as high as 11% in the north-east, by 2035.
June 26, 2025
Nextracker will supply solar tracker systems to a 550MW solar PV project in the Greek province of Western Macedonia, owned by Greek renewables developer PPC Renewables.
June 24, 2025
US solar tracker manufacturer GameChange Solar has signed a deal to supply trackers to 715MWp worth of solar PV capacity across South America.
June 18, 2025
US solar tracker manufacturer Array Technologies has acquired APA Solar, a producer of foundations and fixed-tilt racking for solar projects.
Sponsored
June 17, 2025
As the solar industry pushes for ever-lower costs, collapsing module quality is forcing a rethink of how reliability and performance can be safeguarded, writes Eric Hafter.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK