Nextracker Accelerates in Distributed Generation (DG) Solar with Two New Strategic Value-Added Reseller Partners and Over 600 DG Projects Delivered

Rhea-AI Summary

Nextracker (Nasdaq: NXT) has delivered over 600 projects in its distributed generation portfolio, with its NX Horizon™ solar tracker systems driving significant energy gains. The company has entered into agreements with channel partners to support its global ecosystem of DG solar infrastructure. The partnerships aim to enable customers to scale their DG projects more rapidly in the commercial and industrial segment, addressing the smaller utility-scale market and DG solar power generation applications typically under 30 megawatts.

Market Research Analyst

The announcement by Nextracker concerning the delivery of over 600 projects within its distributed generation portfolio signifies a strategic milestone for the company. This achievement underscores the company's growing influence in the solar energy market and its capacity to cater to diverse commercial and industrial clients. The partnerships with channel partners like RP Construction Services and Vergo reflect an aggressive expansion strategy aimed at capturing a larger share of the distributed generation market.

From a market research perspective, Nextracker's focus on distributed generation technology is timely. The global push for clean energy solutions is accelerating and distributed generation systems are increasingly seen as a viable means to enhance energy delivery reliability and reduce carbon emissions. With the solar energy market projected to grow substantially, Nextracker's positioning and partnerships could potentially lead to increased market share and revenue growth. Their ability to rapidly scale DG projects in response to customer demand is a competitive advantage that may drive future financial performance.

Financial Analyst

Financially, Nextracker's surpassing of 600 DG projects is indicative of the company's operational success and could be a positive signal to investors. The partnerships with channel partners are likely to optimize the company's supply chain, reducing costs and improving margins. Furthermore, the adoption of NX Horizon solar tracker systems by a range of sectors, including data centers and manufacturing, suggests a diversified customer base, which can help mitigate sector-specific risks and contribute to financial stability.

Investors should note the potential for Nextracker to capitalize on economies of scale. As the company expands its DG portfolio, the cost per unit of solar trackers may decrease, leading to improved profitability. Additionally, the focus on smaller utility-scale market and DG applications typically under 30 megawatts is a strategic move that taps into a niche yet growing segment of the market. This could result in a steady stream of projects with shorter sales cycles compared to larger utility-scale developments.

Renewable Energy Expert

The deployment of Nextracker's NX Horizon solar tracker systems in various commercial and industrial applications is a testament to the technological advancements in the field of renewable energy. Solar trackers enhance the efficiency of solar panels by following the sun's trajectory, thereby maximizing energy capture. Nextracker's technology, therefore, plays a crucial role in optimizing the performance of solar installations, which is critical in driving the adoption of solar energy.

The company's commitment to providing end-to-end support—from design to commissioning—aligns with industry trends emphasizing comprehensive service offerings. Additionally, the collaboration with local partners for logistics and construction management is a sustainable approach that can reduce the carbon footprint associated with transportation and foster community engagement. In the long term, the widespread use of distributed generation can contribute to grid stability and resilience, as well as facilitate the transition to a decentralized energy model.

FREMONT, Calif.--(BUSINESS WIRE)-- Nextracker (Nasdaq: NXT) announced it has surpassed 600 projects delivered in its distributed generation (DG) portfolio. Driven by customers realizing significant energy gains using its NX Horizon™ solar tracker systems, Nextracker’s DG projects are deployed worldwide in commercial and industrial applications, including data centers, farming, retail, education, and manufacturing verticals.

NX Horizon™ solar trackers help power Weymouth Water Treatment Plant in Los Angeles County, California, 3.3 MW. (Photo: Nextracker)

To capture this DG growth and support its growing global ecosystem of DG solar infrastructure, Nextracker entered into two new agreements with channel partners RP Construction Services (U.S.) and Vergo (Turkey and regional solar markets). Nextracker’s channel partners are intensively trained and qualified to sell the company’s flagship NX Horizon solar tracker systems enabling customers to scale their DG projects more rapidly in the commercial and industrial segment, which is actively seeking to reduce energy costs and carbon emissions while increasing energy delivery reliability. These channel partners will provide Nextracker products and systems to address the smaller utility-scale market and DG solar power generation applications typically under 30 megawatts.

“Distributed generation technology plays a key role in solving energy grid infrastructure challenges to meet rising global demand for clean energy,” said Dan Shugar, Nextracker founder and CEO. “We are appreciative to be working with leading channel partners, RPCS and Vergo. Together we are supporting DG customers with design, inventory, logistics, construction management, commissioning, and service support.”

“We’re committed to bringing our customers the most advanced technology solutions available on the market, and partnering with Nextracker is key to that mission,” said Eb Russell, CEO RPCS. “The combination of Nextracker’s technology performance advantages, proven total project cost savings, and ability to be deployed just about anywhere including challenging project sites on tight schedules is a big win for us and our DG customers.”

“We’re thrilled to be representing Nextracker’s advanced solar tracker systems for DG projects as a channel partner,” stated Nevzat Taşkın, founder and CEO of Vergo. “Challenging land constraints and hilly terrain in our regional markets are ideally suited to Nextracker’s terrain following solar tracker system—maximizing benefits and lowering costs for our customers. Vergo is uniquely positioned to accelerate the energy transition as a Nextracker channel partner.”

With over 90 GW of smart solar trackers operational or under fulfillment around the world, Nextracker NX Horizon solar trackers are well-suited for both utility-scale and DG solar projects. NX Horizon’s independent-row, balanced tracker design and software solutions enable deployments in all geographies, sizes, and most terrains—from flat sunny and rectangular sites to irregular more diffuse and undulating locations. The NX Horizon platform allows EPCs to conform to sites with irregular and rolling terrain layouts and can eliminate the need for additional grading, lowering costs, and using space more efficiently while helping to boost energy yield and financial returns for both utility-scale and DG project owners.

About Distributed Generation Energy

DG applications play a key role in lowering energy costs and advancing reliability, security, and resilience of the energy grid. DG resources with ground mount solar tracker systems are typically up to 30 MW each in capacity, can come with backup batteries, and can form microgrids to produce electricity on a smaller scale connected to a distribution grid (compared to utility-scale solar, which is connected to the transmission system). This allows clean power to be generated right where it is used, and in many policy-supported states, DG systems allow businesses to sell unused energy generation to the grid for a profit. Microgrids can also operate autonomously during extreme weather events and during widespread grid failure, a key benefit for hospitals, server farms, semiconductor fabs, government buildings, and other critical infrastructure needing 24/7 uptime. DG technology and infrastructure also enable community solar that provides easier access to affordable clean energy.

Media Resources

For more information on Nextracker DG project case studies, please visit:

• Military base (Los Alamitos California’s National Guard Joint Forces Training Base, California)
• Mining (Sandfire’s Degrussa, Agnew Hybrid and Boonanarring projects, Australia)
• Airport (Sacramento Airport, California)
• Farming (Woolf Farming, Medieros and Son Dairy, Vanderpoel Dairy, California)
• Hospital (Al Khalidi Medical Center, Jordan)
• Retail (L’Oréal, PepsiCo and Kraft Heinz, U.S.)

About Nextracker

Nextracker is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Its products enable solar panels to follow the sun’s movement across the sky and optimize plant performance. With plants operating in more than thirty countries worldwide, Nextracker offers solar tracker technologies that increase energy production while reducing costs for significant plant ROI. For more information, visit nextracker.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240207676545/en/

Media Contacts

Kristan Kirsh (global)

+1.650.814.1273

Kkirsh@nextracker.com

 

Alex Petersen (US)

Tigercomm on behalf of Nextracker

+1.203.313.7699

alex@tigercomm.us

Source: Nextracker

FAQ

How many projects has Nextracker delivered in its distributed generation portfolio?

Nextracker has delivered over 600 projects in its distributed generation portfolio.

What are the key applications of Nextracker's NX Horizon™ solar tracker systems?

The NX Horizon™ solar tracker systems are deployed worldwide in commercial and industrial applications, including data centers, farming, retail, education, and manufacturing verticals.

What are the new agreements that Nextracker has entered into with channel partners?

Nextracker has entered into agreements with channel partners RP Construction Services (U.S.) and Vergo (Turkey and regional solar markets).

What is the goal of the partnerships with channel partners?

The partnerships aim to enable customers to scale their DG projects more rapidly in the commercial and industrial segment, addressing the smaller utility-scale market and DG solar power generation applications typically under 30 megawatts.

Who is the founder and CEO of Nextracker?

Dan Shugar is the founder and CEO of Nextracker.