Nextracker has rebranded itself as Nextpower, signaling its evolution into a full-scale solar technology platform
Nextpower’s operations are now structured into Trackers, Structural, Electrical, and Software & Services divisions
The company aims to deliver end-to-end solar plant solutions from design to operations and maintenance
Nextracker, known as one of the world’s leading solar tracker brands, has rebranded itself as Nextpower. While keeping solar at its core, the move emphasizes its evolution into a broader platform for utility-scale solar power plants. It will continue to trade under the NXT ticker on Nasdaq.
Under the new brand, Nextpower has categorized its business into 4 core segments: Trackers (NX Horizon, NX Horizon XTR, Hail Pro and low carbon solutions), Structural (frames and foundations), Electrical (eBOS, power conversion systems (PCS), inverters), and Software and Services (NX One, TrueCapture, robotics, AI and tools).
Part of its strategy also includes the development of a new line of utility-scale PCS, which it expects to start shipping in 2026.
With this arrangement, Nextpower intends to cover the entire lifecycle of advanced power plants from design and construction through operations and maintenance. While solar trackers remain core, Nextpower is expanding revenue streams through structural, electrical, and digital technologies.
The company said its customers want integrated solutions that install faster and are easier to maintain over their lifetime. The move builds on several recent acquisitions by Nextpower to enhance its expertise, including that of eBOS company Bentek, autonomous robotic inspection and fire detection system specialist OnSight Technology, water-free robotic cleaning technology company Amir Robotics, AI-enabled drone imagery technology firm SenseHawk, and steel frame company Origami Solar (see Nextracker Acquires Origami Solar For $53 Million).
“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,” explained Nextpower Founder and CEO Dan Shugar.
He added, “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 made the announcement at its Capital Markets Day, where it reaffirmed its FY26 outlook of revenues in the $3.27 billion to $3.47 billion range, GAAP net income of $499 million to $529 million, and adjusted EBITDA in the $775 million to $815 million range (see Nextracker Announces Saudi Arabia JV As Backlog Exceeds $5 Billion).
The company also shared its FY27 outlook as it expects revenues to range from $3.6 billion to $3.8 billion and an adjusted EBITDA of $800 million to $900 million.
For FY30, its revenue forecast is $4.8 billion to $5.6 billion, and adjusted EBITDA of between $1.1 billion and $1.3 billion. These projections represent a growth over the $3 billion in revenues and $776 million in adjusted EBITDA it expects for FY25 (see Nextracker Sees 18% YoY Revenue Growth In FY2025).
The solar tracker business will continue to be in the driver’s seat, though, representing 87% of the expected FY26 revenues at the midpoint. Over time, the share of other business segments is expected to grow to account for 32% of the FY30 business, while the share of trackers comes down to 68%.
“Our multi-year financial targets reflect our confidence in Nextpower’s growth trajectory and the strength of our business model,” said Nextpower CFO Chuck Boynton. “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.”