en.Wedoany.com Reported - Nextpower (formerly Nextracker) is expanding its business from solar trackers into broader fields through a series of acquisitions and new product launches. During The smarter E Europe exhibition, CEO Dan Shugar stated that this expansion is entirely driven by customer demand, rather than an ambition to become a supplier of every component in the solar value chain.
Shugar noted that Nextpower now covers nearly all major components of utility-scale solar and energy storage systems, excluding photovoltaic modules and battery cells. The company's business spans most areas of energy storage and solar, with the sole exceptions of solar module manufacturing and battery module manufacturing. This model aims to deliver better products, more efficient designs, faster delivery, and ultimately a superior experience for customers during project execution.
Unlike some inverter manufacturers that have independently expanded into modules or energy storage, Shugar indicated that Nextpower's diversification follows a global strategy based on multi-market experience. The company serves over 45 countries, maintaining leading market positions in North America, South America, Australia, Europe, India, and the Middle East. Typically, new solutions start in one region before being rolled out globally. For example, after introducing foundation system technology to North America, Nextpower expanded it to Australia and launched it in Europe last week. Conversely, the company recently relaunched the NX Gemini dual-row tracker, primarily due to growing demand in European agrivoltaics. Shugar pointed out that the product was shelved five years after its initial launch because single-row trackers were more cost-effective, but with renewed demand in agrivoltaics, the company redesigned and brought it back to market.
Acquisitions have become a key part of Nextpower's expansion strategy. The company invests over $100 million annually in R&D while integrating complementary technologies through mergers and acquisitions. Shugar revealed that 11 acquisitions were completed over the past two years, with three major acquisitions announced in just the last six weeks: Spanish inverter technology company ZGR Apex, battery energy storage integrator Prevalon Energy, and German racking system manufacturer Zimmerman PV Steel Group. The inverter acquisition completes the solar power system, the Prevalon acquisition brings a complete battery energy storage system, and the Zimmerman acquisition strengthens the company's service footprint in Europe. These three transactions are expected to close in the coming months, pending regulatory approvals.
Despite a broader product portfolio and the name change from Nextracker to Nextpower, solar trackers remain the core of the business. Trackers are likened to the skeletal system of the human body, serving as the foundation of solar power systems. Building on this base, the company has gradually expanded into adjacent technologies such as electrical balance of system, foundation systems, and inverters. Shugar stated that over half of technology development projects still focus on improving tracker performance, including generating more energy per watt, enhancing performance under extreme weather conditions, and reducing risks to photovoltaic panels. The company has pioneered protective measures against hail, snow loads, and strong winds, with many customers benefiting from lower insurance costs in harsh climates.
When asked about potential further expansion into new solar technology areas, Shugar declined to disclose specific targets but emphasized that all investments will continue to be customer-driven. He noted that a growing challenge is grid interconnection, particularly in markets with weak transmission infrastructure. Energy storage can help stabilize voltage, reduce flicker, and enable projects to become operational faster. While the company has been exceptionally active in acquisitions, Shugar hinted that the pace may slow as the focus shifts to execution. He stressed that future acquisitions will remain opportunistic rather than driven by financial growth targets.
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