Nextracker, Sterling and Wilson In 2 GW Pact For Trackers In India

US based global tracker leader Nextracker has announced it has won a repeat order from Sterling and Wilson Renewable Energy  for Phase 2 and Phase 3 solar projects of NTPC at Khavda, Gujarat. The projects, for an aggregate size of 1.5GWdc (Phase 2) and 375MWdc (Phase 3) will be using Nextracker’s NX Horizon Solar Trackers. The two deals effectively take the aggregate value of projects executed by Nextracker and SWREL to over 5 GW worldwide. With India leading of course.

For Nextracker, the large GW sized deals mark a strong phase of growth in India, as utility projects in the country increase the use of solar trackers. The resurgence is directly linked to the higher use of high efficiency modules, especially Bifacials, that have strengthened the case for tracker use.

Nextracker founder and CEO Dan Shugar was present at the contract signing in Delhi with his VP & General Manager Rajeev K. Shugar stressed that ” What is so amazing about our relationship with Sterling and Wilson is the incredible geographic diversity where we have collaborated to build high-performing solar plants across 7 countries worth 5 GW”.

CK Thakur, CEO, Renewable business for Sterling and Wilson, stressed that the high value of the partnership was no coincidence, but based on SWREL’s experience and satisfaction with Nextracker’s ability to deliver to specifications and provide support.

Nextracker has doubled down on its India operations in the recent past, with manufacturing capacity across 7 locations of over 10 GW. It has also exported almost 8 GW of tracker product from India to other key markets. The firm, with over 90 GW of global installations, has clearly marked India as a vital market for the long term growth in the subcontinent and MENA region, where it has seen significant traction in recent months. In 2023, the firm has achieved significant milestones like its successful IPO in February last year, that has provided the firm with a market cap of over $8.5 billion, even as it shipped 18 GW of trackers during the first three quarters with revenues at around $1.8 billion.