Nextracker Inc. (NASDAQ:NXT) on Tuesday disclosed that it surpassed 10 GW of solar tracker deployments in India, highlighting the country’s rapid solar expansion.
The company is opening a new 80,000 sq. ft. office and R&D center in Hyderabad to support this growth, underscoring its long-term commitment to the region and India’s clean energy goals.
The new office is the company’s largest office outside the U.S., which combines R&D, testing, and workforce development and includes a 13-acre Center for Solar Excellence (CFSE) backed by a $1 million investment.
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With over 400 employees already in the country, Nextracker is ramping up hiring across engineering, manufacturing, and customer support.
Notably, Nextracker added 1.8 GW of new projects last quarter, bringing its total India portfolio to over 10 GW and reflecting strong solar adoption momentum.
The company’s key recent wins include a 305 MW project with ReNew in Anantapur and 1.5 GW secured through partnerships with leading EPCs.
Rajeev Kashyap, senior vice president and managing director of Nextracker (Middle East, Africa, and India), said, “With 10 GW of projects commissioned or under delivery, we are equipping developers with best-in-class technology optimized for the country’s diverse needs while investing in local talent, infrastructure, and innovation to meet the country’s renewable energy goals.”
Subrahmanyam Pulipaka, CEO of the National Solar Energy Federation of India (NSEFI), said, “This kind of technology-driven, future-forward collaboration exemplifies what we need to achieve our national clean energy goals. By localizing the production of intelligent solar tracking systems and integrating advanced automation with domestic expertise, Nextracker is making a meaningful contribution to India’s Atma Nirbhar Bharat vision in the renewable energy sector.”
Investors can gain exposure to the stock via Invesco Solar ETF (NYSE:TAN) and Global X Solar ETF (NASDAQ:RAYS).
Price Action: NXT shares are trading higher by 1.27% to 456.76 premarket at last check Tuesday.
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