NEXTracker Completes Delivery of Trackers for 3.4 GW of Solar Portfolio

NEXTracker has completed the delivery of its smart solar trackers for 174 Power Global’s 3.4 gigawatts (GW) US solar projects portfolio.

NEXTracker has announced that it was selected by 174 Power Global, an affiliate of Hanwha Group, to supply its smart solar trackers across 174 Power Global’s 3.4 gigawatts (GW) US solar projects portfolio. The contract was executed in the second half of 2019. The commercial agreement marks one of the largest racking contracts in solar industry history.

“NEXTracker has a proven track record for on-time delivery, flexibility and the capacity to scale and meet customer’s requirements,” stated Henry Yun, CEO of 174 Power Global. “NEXTracker’s distributed architecture and exemplary yield gain technology were critical to our decision. Having an assured tracker supply and cost savings guaranteed through Safe Harbor as we continue to plan our project pipeline is critical in advancing our mission of creating a more sustainable future.”

Businesses are looking to maximise the benefit of the solar investment tax credit (ITC) before the end of the year when the ITC phases down. The ITC dropped from 30 percent in 2019 to 26 percent this year and will decline an additional four percentage points in 2021 before falling to 10 percent in 2022, the firm issued in a statement.

“174 Power Global has developed an impressive solar portfolio and we are honored that our innovative, smart solar trackers were included across its projects,” said Dan Shugar, CEO of NEXTracker. “This announcement demonstrates our ability to scale and offer our customers strong engineering support, bankability and on-time delivery in the context of fluid and challenging global supply conditions.”

In June 2019, we had reported that the firm had announced its latest industry milestone, with 20 gigawatts (GW) of its smart solar trackers delivered and under active fulfilment globally. The firm was named the No.1 supplier of photovoltaic (PV)  tracker systems globally in 2018, a title it has held for four consecutive years, according to research and consultancy firms IHS Markit and Wood McKenzie Power and Renewables.