Nextpower, formerly known as Nextracker, is rapidly broadening its portfolio beyond solar trackers through a series of acquisitions and new product launches. Speaking with pv magazine at The smarter E Europe exhibition in Munich, CEO Dan Shugar said the company’s expansion is driven by customer demand rather than a desire to become a supplier of every component in the solar value chain.
“What we’ve done is add technology, manufacturing and solutions for customers in response to what their needs are,” Shugar told pv magazine. “We ask customers, ‘What are your pain points?’”
According to Shugar, Nextpower now covers nearly every major component of utility-scale solar and storage systems except photovoltaic modules and battery cells.
“NextPower is essentially doing everything in storage and solar except making the module in the case of solar, and making the battery module in the case of storage,” he said. “It’s really resulting in better products, more efficient design, faster fulfillment and ultimately a better customer experience during project delivery.”
Unlike some inverter manufacturers that have expanded into modules or storage independently, Shugar said Nextpower’s diversification follows a global strategy built on experience across multiple markets.
“Our DNA is very much global,” he said. “We’ve been serving more than 45 countries and have held leading market positions across North America, South America, Australia, Europe, India and the Middle East. Typically, when we add new solutions, we’ll start in one region and then roll them out globally.”
He cited the company’s new foundation systems as one example. After first introducing the technology in North America, Nextpower expanded it to Australia before launching it in Europe last week. Conversely, the company recently revived its NX Gemini two-in-portrait tracker primarily because of growing demand for agrivoltaics in Europe.
“We had introduced NX Gemini five years ago but put it on the shelf because one-in-portrait trackers were so cost-effective,” he said. “Now we’ve seen growing demand, particularly in Europe with agrivoltaics, so we reimagined the system and brought it back.”
While the company continues to invest heavily in internal research and development, acquisitions have become a key part of its expansion strategy. Shugar said Nextpower invests more than $100 million annually in research and development while simultaneously integrating complementary technologies through mergers and acquisitions.
“We’ve completed 11 acquisitions over the last two years,” he said. “In just the last six weeks we’ve announced three major acquisitions.”
Those include Spanish inverter technology company ZGR Apex, battery storage integrator Prevalon Energy and German mounting systems manufacturer Zimmerman PV Steel Group.
“The inverter acquisition completes the power system on the solar side,” Shugar explained. “The Prevalon acquisition brings a full battery storage system that can either be supported by our inverter technology or use someone else’s inverter. The Zimmerman acquisition strengthens our footprint to serve customers throughout Europe.”
He added that, subject to regulatory approval, all three transactions are expected to close within the next few months.
Despite the broader product portfolio and the company’s rebranding from Nextracker to Nextpower, Shugar emphasized that solar trackers remain at the center of the business.
“If you look at the human body, it starts with the skeletal system,” he said. “The tracker is core to a solar power system just as the skeletal system is core to your body.”
From that foundation, the company has gradually expanded into adjacent technologies. “We started with electrical balance-of-system products, then foundation systems, and now inverters,” he said. “But we are going to maintain our focus on the tracker.”
According to Shugar, more than half of Nextpower’s technology development programs continue to focus on improving tracker performance.
“We’re continuing to develop new technologies that generate more energy per watt, improve performance during extreme weather and reduce risk for solar panels,” he said. “We’ve pioneered protection against hail, snow loads and high winds, and many of our customers benefit from lower insurance costs in challenging climates.”
Asked whether Nextpower is considering additional moves into new solar technologies, Shugar declined to identify specific targets but said future investments would continue to be guided by customer requirements.
“The only thing we’re committed to is making informed decisions that provide value to customers,” he said. “Every customer meeting starts with the same question: ‘What are you struggling with? How can we help?’”
One growing challenge is grid integration, particularly in markets with weak transmission infrastructure.
“In many places around the world, customers struggle with grid access,” he said. “Storage can help stabilize voltage, reduce flicker and allow projects to come online more quickly.”
While acknowledging that the company has been exceptionally active on the acquisition front, Shugar suggested the pace could slow as the focus shifts toward execution.
“We’ve just completed a massive run of new products and acquisitions,” he said. “One thing about Nextpower is that we’re hyper-focused on execution, on-time delivery, uptime and reliable performance.”
He stressed that future acquisitions would remain opportunistic rather than driven by financial growth targets.
“The motivation isn’t that we’re trying to hit some internal growth metric,” Shugar said. “The motivation is understanding what customers need. If those needs evolve, we’ll respond either organically or through acquisitions.”
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