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Nextracker Expands in India After Surpassing 10 GW Milestone

On May 27, Nextracker Inc. (NASDAQ:NXT) announced it has surpassed 10 gigawatts (GW) of solar tracker deployments in India, marking a major milestone in the country’s accelerating clean energy adoption.

A technician installing a communication device in a large solar energy system.

To support its growth, Nextracker is expanding its footprint with a new 80,000 sq. ft. office and R&D facility in Hyderabad, reinforcing its commitment to India’s renewable energy sector. In the last quarter alone, 1.8 GW of new projects were added, including a 305 MW collaboration with ReNew in Anantapur and 1.5 GW of projects through partnerships with EPC firms. The company’s 13-acre Center for Solar Excellence (CFSE) will drive local solar technology advancements, backed by a $1 million investment in research and skill development.

Aligned with India’s ‘Make in India’ initiative, 95% of Nextracker’s tracker components are manufactured domestically, strengthening supply chain resilience and energy security. Rajeev Kashyap, Senior VP & Managing Director of Nextracker, emphasized the company’s long-term investment in India, stating, “With 10 GW of projects commissioned or under delivery, we are equipping developers with best-in-class solar technology while investing in local talent and innovation.” The expansion highlights India’s growing solar market, with Nextracker leading efforts to advance sustainable energy solutions across the country.

Nextracker is a provider of advanced solar tracking technology, helping power plants worldwide maximize efficiency by following the sun’s movement. Operating in over 40 countries, Nextracker delivers innovative solutions that enhance solar energy production, streamline construction, and improve long-term reliability.

While we acknowledge the potential of Nextracker Inc. (NASDAQ:NXT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NXT and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None.

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