California-based Nextracker has announced its corporate rebranding to Nextpower. The company on November 12 said the new name reflects the group’s transformation into a global supplier of fully integrated energy technology solutions.
Nextracker, known as a global leader in tracking systems for solar power, now will deliver an integrated portfolio of advanced technologies and services for utility-scale solar power plants. As part of its expanding technology platform, Nextpower announced the development of a new line of utility-scale power conversion systems with first shipments expected 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 (watch video here). “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.”
“Our new name reflects this transformation,” Shugar continued. “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 [artificial intelligence], we’re enabling customer solutions engineered for the scale, reliability, and complexity of today’s solar power plants.”
Nextpower in the company’s Capital Markets Day on Wednesday reaffirmed its FY26 outlook, and also announced its FY27 outlook and long-term financial targets. The targets include $4.8 billion to $5.6 billion in revenue by FY30, with about one-third of the revenue expected to come from sales of non-tracker products and services.
“Our multi-year financial targets reflect our confidence in Nextpower’s growth trajectory and the strength of our business model,” said Chuck Boynton, CFO of Nextpower. “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.”
Nextpower on Wednesday said the rebranding comes at a pivotal moment as global electricity demand accelerates, driven by the rapid rise of AI and data centers, electric transportation, and the electrification of buildings. In response, policymakers are emphasizing the strategic need for localized supply chains, an area where Nextpower has made investments for more than a decade across domestic steel, electronics, and components manufacturing.
Nextpower will retain its Nasdaq ticker symbol NXT, and continue operating under the same executive leadership team. The company’s complete product portfolio including trackers, foundations, eBOS, advanced module frames, robotics, software, yield management and control systems, and services will continue under the Nextpower brand architecture.
—POWER edited this content, which was contributed by Nextpower’s communications team.
