The world’s leading solar power tracker company NEXTracker has achieved a major milestone in one of the world’s fastest growing solar power markets.
NEXTracker recently announced that it has now sold more than 1 gigawatts in solar trackers to projects in India.
“We are appreciative to be partnering on over 1 GW of solar power plants with many of India’s leading renewable energy firms,” stated NEXTracker CEO Dan Shugar. “We have designed the most flexible single-axis tracker to fit a wide range of project attributes in India such as property shape and size, terrain profile, voltage, and wind speed. We have significantly invested and grown our Hyderabad team, and have adapted our product for local conditions, supporting dozens of projects that are under present construction.”
NEXTracker has worked with some of the leading IPPs in India including Adani Green Energy, SkyPower, Suzlon Energy, CleanMax Solar, and ReNew Power Ventures. With Adani Green Energy, NEXTracker commissioned India’s largest tracker-equipped solar power project. While delivering trackers to Adani Green Energy’s Punjab-based project NEXTracker had indicated that it could receive more orders from the IPP.
Earlier this year, the company announced plans to set up a manufacturing facility in India to cater to the growing demand. The company has right reasons to expand manufacturing in the country which could soon become the third-largest solar power market in the world.
The company believes that the solar tracker market would increase from 7% in 2016 to 31% in 2021 with the massive push for large-scale project in India.
NEXTracker may receive support from the government under the Make In India program as well as special incentives planned for manufacturers of solar power modules and equipment. As per a draft plan discussed by the Ministry of New & Renewable Energy last year, the government is looking to offer direct subsidies to manufacturers, be it Indian or foreign, willing to set up manufacturing units in the country. The subsidies could be in the form interest subvention or cheaper loans.
GTM Research noted that NEXTracker remained the leading solar power tracker for a second consecutive year in 2016 and increased its global share in trackers market from 24% to 30%. NEXTracker also recently shipped trackers to the largest solar power project in the western hemisphere. The project, located in Northern Mexico, will have an installed capacity of 752 megawatts and is owned by a subsidiary of Enel Green Power.