Nextracker recently announced its corporate rebranding to Nextpower, marking its transformation into a global supplier of fully integrated energy technology solutions.
The new brand reflects Nextracker’s evolution from a 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.
Nextpower delivers an integrated, connected ecosystem spanning structural, electrical, and digital solutions across the full lifecycle of advanced power plants – from design and construction through operations and maintenance.
As part of its expanding technology platform, Nextpower has 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,” Nextpower founder and chief executive officer Dan Shugar said.
“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 said. “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.”
Nextpower has reaffirmed its outlook for the 2025–26 financial year (FY26) and announced 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,” Nextpower chief financial officer Chuck Boynton said.
“We expect to deliver continued top-line growth, expand cash generation, and fund ongoing investments in growth while maintaining healthy margins and a strong balance sheet through disciplined execution and operational efficiency.”
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.
Nextpower’s rebranding comes at a pivotal moment as global electricity demand accelerates, driven by the rapid rise of AI and data centres, electric transportation, and the electrification of buildings.
According to the International Energy Agency, US data centres 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 localised supply chains, an area where Nextpower has made investments for more than a decade across domestic steel, electronics, and components manufacturing.
With over 150GW of Nextpower systems shipped worldwide, the company has maintained the number one global tracker market share for 10 consecutive years. Revenue has grown from $1.9 billion (FY23) to $3.4 billion for the year ending September 2025, reflecting sustained global demand for its technology.
To learn more about the Nextpower rebrand, strategy, and new platform category, visit nextpower.com.