Nextpower Inc.

Company overview

Nextpower Inc. (formerly Nextracker Inc.) supplies solar and energy technology solutions for utility-scale power plants worldwide. The company offers a multi-product platform that integrates solar trackers with electrical infrastructure, software, controls, and emerging technologies to optimize performance, reliability, and return on investment across the solar power plant lifecycle: design, construction, operations, and maintenance.

Scale and reach

• Customers: Over 275 active customers across more than 40 countries (as of March 31, 2026).
• Employees: Approximately 1,993 full-time employees (as of March 31, 2026).
  • Hyderabad, India office: more than 542 employees.
  • Geographic composition: about 48% of employees based in the U.S., about 27% in India, remainder in other international offices.
• Backlog: Over $5 billion at the end of fiscal year 2026 (customer purchase orders and VCAs with deposits and identified sites).
• Global footprint: Offices and operations in California and Tennessee (U.S.), Spain, Australia, Mexico, India, United Arab Emirates, Saudi Arabia, Brazil, and other locations. Centers for Solar Excellence in the U.S., India, and Brazil; 22-acre Foundations research facility in Paterson, California.

Core offerings

• Solar tracking systems
  • NX Horizon tracker (flagship) with independent-row architecture and self-powered design.
  • Terrain-following variants such as NX Horizon-XTR.
• Energy yield management and control software
  • TrueCapture energy yield management (terrain-adaptive, site-condition-aware).
  • NX Navigator for plant operability, weather mitigation, remote monitoring, and safety stow features.
  • Network Control Unit (NCU) and Smart Power Controls (SPC) for distributed real-time control.
• Integrated foundation and structural solutions
  • NX Foundation Solutions (NX Anchor, NX Earth Truss) for diverse soil conditions.
  • NX Foundation installation support tools, including Truss Driver.
• Steel framing and framing alternatives
  • Origami Solar acquisition (September 2025) to offer roll-formed steel framing as an alternative to traditional aluminum frames.
• Electrical Balance of Systems (eBOS)
  • Bentek acquisition (May 2025) to provide engineered eBOS components and integrated NX Horizon solutions.
  • NX PowerMerge trunk connector introduced (September 2025) to streamline eBOS installation.
• AI, robotics, and related services
  • OnSight acquisition (July 2025) for autonomous robotic inspection and fire detection; ongoing AI and robotics initiatives to improve construction, inspection, and operations.
• Risk mitigation and operability
  • Licensed solutions to improve resilience and operability, including severe weather response and proactive plant management features.

Manufacturing, supply chain, and capacity

• Manufacturing model: Capex-light, with most components produced by contract manufacturers.
• Global capacity and scope:
  • Total global manufacturing capacity of approximately 1,500 MW per week, supporting about 80 GW of annual shipments.
  • Contract manufacturing with more than 100 facilities across 19 countries on five continents.
  • U.S. and regional manufacturing: certain components produced in the U.S., controllers produced in Brazil, eBOS in California; Nextpower Arabia joint venture with manufacturing in Saudi Arabia.
  • Supplier network structured for regional proximity and local content where feasible.
• Component supply capacity:
  • Contracts to provide total annual manufacturing capacity of more than 40 GW for primary components such as torque tubes and related parts.

Intellectual property

• Issued patents and applications:
  • 329 issued U.S. patents.
  • 498 granted non-U.S. patents.
  • 745 U.S. and non-U.S. patent applications pending.
• Coverage includes design, construction, control, robotics, power processing, structure, module framing, mounting, software, and related solar-tracker technologies.
• The company also relies on trade secrets and confidentiality agreements to protect its know-how.

Research and development

• Focus areas: Improve system performance, reliability, and cost efficiency; integrate with other plant components such as energy storage; develop plant-level software, automation, and data analytics.
• Facilities: Centers for Solar Excellence in the U.S., India, and Brazil; dedicated prototyping labs and testing environments.
• R&D headcount: Over 500 employees involved in R&D (as of March 31, 2026).

Markets and incentives

• Customer base: EPCs, developers, and project owners, with long-term relationships and multi-project engagements (including Volumetric Commitment Agreements).
• Incentives: Active in markets with federal, state, local, and international incentives (including ITCs and domestic-content incentives). The company considers regulatory dynamics and safe harbors that influence demand and project economics.
• Backlog and visibility: A sizable backlog provides revenue visibility, while project timing and progression remain factors in near-term execution.

Strategic partnerships and growth initiatives

• Saudi Arabia: Joint venture with Abdullah Abunayyan Investment Holding (Nextpower Arabia) to expand in the Middle East and Africa with local manufacturing and market presence.
• Acquisitions and integrations: Recent transactions include Bentek (eBOS), OnSight (AI/robotics), Origami Solar (steel frames), Ojjo, and SPI foundations.
• Emerging technologies: Investments in AI, robotics, agrivoltaics, soil monitoring, and automation to improve deployment and operations efficiency.

Governance and operations

• Public company listed on Nasdaq since February 2023; subject to U.S. GAAP, Sarbanes-Oxley, and public-company governance requirements.
• The company employs a platform approach that combines hardware, software, and services to optimize solar plant performance and return on investment.

Operational scale and select metrics

• Shipments: 160 GW shipped to date.
• Revenue mix (FY2026): 77% of revenue from the U.S., 23% international.
• Production capacity: 1,500 MW per week global manufacturing capacity; contracts for over 40 GW annual capacity for primary components.