Nextracker has rebranded itself as ‘Nextpower’ to reflect what the company said was its evolution from solar tracker supplier to a “full-platform” provider of integrated energy solutions.
The name change follows an acquisition spree in recent months that has seen Nextracker buy a number of companies, covering module frames, artificial intelligence, robotics and electrical balance of system (BOS) components.
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In addition to the rebrand, Nextpower announced the launch of a new line of power conversion systems (PCS), which it plans to begin shipping in 2026.
“Our customers want coherent, integrated solutions that install faster, perform better, and operate more reliably over their lifetime,” said Dan Shugar, founder and CEO of Nextpower. “Over the past several years, we have been systematically executing a strategy to expand our portfolio and create a comprehensive technology platform that delivers significant benefits across the solar value chain.”
Shugar said the new name reflects this transformation. “Nextpower is building on decades of leadership in solar tracking, creating a leading integrated technology platform to support the world’s most advanced clean energy systems. The world is in an electricity super-cycle, and solar is the primary driver, adding more capacity than any other source, at lower cost. As we expand into power conversion systems (PCS), robotics, and AI, we’re enabling customer solutions engineered for the scale, reliability, and complexity of today’s solar power plants.”
The company said the rebrand came at a time of huge demand for power, driven by electricity-hungry sectors such as AI.
Underlining Nextpower’s growth into new areas, the company said that it expects around one-third of its revenue to come from sales of non-tracker products and services by 2030. It said it was targeting revenue of US$4.8 billion-5.6 billion by FY2030.
“Our multi-year financial targets reflect our confidence in Nextpower’s growth trajectory and the strength of our business model,” said chief financial officer, Chuck Boynton. “We expect to deliver continued top-line growth, expand cash generation, and fund ongoing investments in growth while maintaining healthy margins and a fortress balance sheet through disciplined execution and operational efficiency.”
The company will continue to list under its Nasdaq ticker NXT.
