CALIFORNIA — Nextracker announced its corporate rebranding to Nextpower™.
The new brand reflects Nextracker’s evolution from the global leader in solar tracking into a full-platform company, delivering 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. “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, we’re enabling customer solutions engineered for the scale, reliability, and complexity of today’s solar power plants.”
In conjunction with the company’s Capital Markets Day being held today, Nextpower reaffirms its FY26 outlook and announces its FY27 outlook and long-term financial targets, including $4.8 billion to $5.6 billion in revenue by FY30, with approximately one-third of 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’s 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. According to the International Energy Agency, U.S. data centers will consume more electricity than all domestic energy-intensive manufacturing combined by 2030. Solar has become the lowest-cost, fastest-growing source of new electricity generation worldwide. 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.
Today, Nextracker also announced that it is changing its corporate name to Nextpower Inc. 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.
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