Higher Sales Volume Pushes Premier Energies’ Revenue Up 40% YoY in Q4 FY 2026

Fujiyama Commissions 2 GW Solar Module Manufacturing Plant in Madhya Pradesh

SJVN’s Q4 FY 2026 Revenue Soars 197%, Loss Narrows

PFC’s FY 2026 Net Profit Rises 10% YoY, Loan Asset Book Tops ₹11.64 Trillion

EESL Invites Bids for Feasibility and Project Reports for Solar Projects

Chhattisgarh Proposes ₹3.4/kWh Levelized Tariff for Solar Projects Up to 2 MW

CERC Clears Transmission Charges for Khavda Renewable Energy Evacuation Project

Sunraycer Secures $901 Million for Solar and Storage Projects in Texas

Arava Power to Acquire 50% Stake in La Salle Solar Project

CEA Proposes Cost-Reflective Fixed Charges and Retail Tariffs for DISCOMs


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/05/amazon_polly_94787.mp3?version=1778744846">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>U.S.-based solar tracker firm <a href="https://nextpower.com/" target="_blank" rel="noopener">Nextpower</a> reported revenue of $880.5 million in the fourth quarter (Q4) of the financial year (FY) 2026, a 4.7% year-over-year (YoY) decrease from $924.3 million.</p>
<p>The revenue exceeded analysts’ expectations by $50.7 million.</p>
<p>The company said Q4 revenue was <a href="https://www.mercomindia.com/abunayyan-nextpower-joint-venture-advances-utility-scale-solar-across-mena" target="_blank" rel="noopener">affected</a> by the non-consolidation of its new Middle East joint venture, which reduced reported revenue by approximately 300 basis points.</p>
<p>Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $202 million, down 16.5% YoY from $242 million.</p>
<p>Net profit declined by 3.9% YoY to $150.6 million from $156.8 million.</p>
<p>Earnings per share (EPS) came in at $0.97, compared to $1.05 in the same quarter of the previous year and beating analysts’ expectations by $0.12.</p>
<p>In Q3 FY 2026, revenue had <a href="https://www.mercomindia.com/solar-tracker-company-nextpowers-revenue-rose-34-yoy-in-q3-fy-2026" target="_blank" rel="noopener">surged</a> by 34% YoY.</p>
<p><strong>Full-Year Results</strong></p>
<p>Nextpower reported revenue of $3.56 billion in FY 2026, a 20.3% YoY increase from $2.96 billion, driven by strong demand from the U.S. market.</p>
<p>Net profit stood at $585.9 million, up 15.1% YoY from $509.2 million.</p>
<p>The company’s adjusted EBITDA during this period stood at $853.7 million, up 10% YoY from $776.5 million.</p>
<p>EPS came in at $3.84, compared to $3.47 in FY 2025.</p>
<p><strong>Business Highlights</strong></p>
<p>The company’s order backlog in FY 2026 exceeded $5.25 billion, and its cumulative global tracker shipments surpassed 160 GW. The U.S. accounted for 79% of bookings, and 21% were from other countries.</p>
<p>Cumulative tracker shipments to Latin America, the Middle East, India, Africa, and Turkey together surpassed 25 GW each.</p>
<p>It achieved a record quarterly electrical balance-of-system (eBOS) bookings, including over 100 MW for its new trunk bus connector. During the quarter, the company received an initial purchase order for its NX PowerMerge eBOS solution.</p>
<p>Nextpower also entered into a multi-year GW-scale steel frame supply agreement with Jinko Solar Industries for U.S.-manufactured steel module frames.</p>
<p>In January 2026, Saudi Arabia’s energy and infrastructure developer, Abunayyan Holding, and Nextpower <a href="https://www.mercomindia.com/abunayyan-nextpower-joint-venture-advances-utility-scale-solar-across-mena" target="_blank" rel="noopener">completed</a> the process of the formal incorporation of their previously announced joint venture, Nextpower Arabia. The joint venture aims to accelerate the deployment of utility-scale solar power projects across the Middle East and North Africa.</p>
<p>Dan Shugar, founder and CEO at Nextpower, announced the company’s transition from being primarily a tracker company to an integrated utility-scale energy technology platform.</p>
<p>He also said that the company has signed an agreement to acquire key power conversion product lines. It entered into a definitive agreement to <a href="https://www.mercomindia.com/nextpower-acquire-zigors-power-conversion-assets-and-apex-power" target="_blank" rel="noopener">acquire</a> complementary assets of Zigor Corporation’s power-conversion business and its U.S.-based subsidiary, Apex Power.</p>
<p>According to the company, the technology is suitable for battery storage and solar inverter applications at 1,500 V, can currently repower applications at 600 V and 1,000 V, and is 2,000 V. The modular skid design can be configured up to 5.2 MVA.</p>
<p>Once completed, Nextpower will enhance its domain expertise in solar businesses and facilitate its entry into the battery storage and data center verticals.</p>
<p>The company is planning to invest $130 million to accelerate its power conversion business.</p>
<p>Nextpower said it is seeing strong demand for its trackers that handle more complex terrain and extreme weather environments. Cumulative sales of its terrain following tracker XTR surpassed 50 GW and over 30 GW for its NX Hail Pro tracker solutions.</p>
<p>It saw a modest gain in its overall average selling YoY due in part to higher attach rates of its non-tracker products and services in the U.S.</p>
<p>Shugar noted that the conflict in the Middle East has provided a tailwind for global renewables and solar, with about 20% of global supplies of liquefied natural gas impacted by constraints at the Strait of Hormuz, and LNG prices going up by 30% to 50% for Europe and Asia.</p>
<p><strong>Outlook </strong></p>
<p>The company expects revenue to be in the range of $3.8 billion to $4.1 billion in FY 2027, up from previous expectations of $3.6 billion to $3.8 billion.</p>
<p>It expects its non-tracker revenue to reach approximately 15% of total revenue in FY 2027, and project strong demand from Europe, Australia, India, and the Middle East markets.</p>


Strong US Demand Pushes Nextpower’s FY 2026 Revenue Up 20%


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/05/amazon_polly_94732.mp3?version=1778676507">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://nextpower.com/" target="_blank" rel="noopener">Nextpower</a> (previously known as Nextracker), a solar PV solutions provider, has entered into a definitive agreement to acquire complementary assets of <a href="https://zigor.com/" target="_blank" rel="noopener">Zigor Corporation’s</a> power-conversion business and its U.S.-based subsidiary, <a href="https://apex-pwr.com/" target="_blank" rel="noopener">Apex Power</a>.</p>
<p>The transaction is expected to expand Nextpower’s product portfolio and capabilities in utility-scale solar power conversion. It would also support its entry into the battery energy storage and data center markets.</p>
<p>The acquired assets include modular, field-deployed inverter technology and engineering talent. According to the company, the technology is suitable for battery storage and solar inverter applications at 1,500 V, repowering applications at 600 V and 1,000 V, and is 2,000 V ready. The modular skid design can be configured up to 5.2 MVA.</p>
<p>Nextpower said the transaction is expected to support the scale-up of inverter manufacturing capacity in the U.S., with production expected to ramp in 2027. In addition, it would allow closer integration of power electronics with its solar trackers, electrical balance-of-systems, and broader technology platform.</p>
<p>“With this acquisition, Nextpower will launch a comprehensive inverter offering in response to strong customer requests for reliable, high-quality power conversion solutions, rounding out our integrated platform,” said Dan Shugar, founder and CEO of Nextpower. “We will be in the market with products for solar, storage, and data centers, and building out U.S. manufacturing as quickly as is prudent. Initial customer demand is promising, and we look forward to welcoming the legacy Apex Power and Zigor team members to Nextpower once the transaction closes.”</p>
<p>The closing of the acquisition is subject to foreign direct investment approval by the Spanish government and other customary conditions. The transaction consideration includes about $80.5 million in cash, consisting of $46 million at closing and up to $34.5 million in potential earnouts.</p>
<p>In addition to the purchase consideration, Nextpower plans to invest about $50 million in growth initiatives, including efforts to accelerate its entry into the power conversion market.</p>
<p>Upon relevant approvals, the acquired assets, including Apex Power, will be integrated into Nextpower’s operations. The inverter business will operate within Nextpower’s power electronics platform. Zigor will continue to operate its remaining business independently, separate from the assets acquired by Nextpower.</p>
<p>According to Mercom’s recently released Q1 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, Corporate M&amp;A activity in the solar sector was 47% higher YoY in the first quarter of 2026, with 28 corporate M&amp;A transactions compared to 19 in Q1 2025.</p>
<p>In May 2026, Skycorp Solar Group, a manufacturer of solar cables and solar connectors, <a href="https://mercomcapital.com/skycorp-solar-acquire-remaining-56-stake-nanjing-cesun-power/" target="_blank" rel="noopener">signed</a> a share acquisition agreement to acquire the remaining 56% equity interest in Nanjing Cesun Power, a provider of turnkey solar project services.</p>


Nextpower to Acquire Zigor’s Power Conversion Assets and Apex Power


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/01/amazon_polly_89671.mp3?version=1769665433">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>U.S.-based solar tracker firm <a href="https://nextpower.com/" target="_blank" rel="noopener">Nextpower</a> reported revenue of $909 million for the third quarter (Q3) of the financial year (FY) 2026, a 34% year-over-year (YoY) increase from $679 million.</p>
<p>The revenue exceeded analysts&#8217; expectations by $93.49 million.</p>
<p>Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $214 million, up 15.1% from $186 million in the same quarter of the previous year.</p>
<p>Net profit grew 12% YoY to $131 million from $117 million in Q3 FY 2025.</p>
<p>Earnings per share (EPS) came in at $0.85, compared to an EPS of $0.79 in the same period of the previous year. Its EPS beat analysts&#8217; revenue expectations by $0.16.</p>
<p>In Q2 FY 2026, the company <a href="https://www.mercomindia.com/nextracker-posts-strong-q2-fy-2026-results-driven-by-electricity-demand" target="_blank" rel="noopener">reported</a> revenue of $905.27 million, a 4.74% quarter-over-quarter rise from $864 million and a 42.3% YoY increase from $636 million.</p>
<p><strong>9M Results</strong></p>
<p>Nextracker, which changed its corporate name to Nextpower in November 2025. reported revenue of $2.68 billion in the first nine months (9M) of FY 2026, representing a 31.6% YoY increase from $2.03 billion.</p>
<p>Net profit stood at $435.3 million, up 21.1% jump from $359.4 million from the same period last year.359.4</p>
<p>The company’s adjusted EBITDA during this period stood at $651.9 million, up 22% YoY from $534 million in 9M FY 2025.</p>
<p>EPS came in at $2.86, compared to an EPS of $2.41 during 9M FY 2025.</p>
<p><strong>Business Highlights</strong></p>
<p>Nextpower achieved a record backlog and order booking in Europe. The company also expanded its global footprint in two new countries.</p>
<p>The company said U.S. bookings were up, and revenue increased 63% YoY.</p>
<p>In January 2026, Nextpower formed a joint venture with Abunayyan Holding to address the rapidly growing utility-scale solar market in the Middle East and North Africa region and secured a 2.25 GW supply commitment for its solar tracking systems for the Bisha Solar Project.</p>
<p>Together with Abunayyan Holding, NextPower plans to support local manufacturing of up to 12 GW of solar trackers annually.</p>
<p>The company said it has an existing factory in Riyadh and is constructing a new factory in Jeddah.</p>
<p>During the quarter, Nextpower also acquired Fracsun, a differentiated panel soiling measurement and SaaS platform enabling end-to-end, real-time soiling monitoring and robotic cleaning solutions.</p>
<p>The company’s board also approved a share repurchase program to repurchase up to an aggregate of $500 million of Nextpower’s outstanding shares of Class A common stock.</p>
<p>Nextpower said that U.S. import tariffs on foreign-made tracker components continued to affect margins. In Q3, the tariff impact was $44 million, up from $33 million in the prior quarter.</p>
<p>The company said the increase was due to the partial impact in Q2, given that the new tariffs took effect on August 15.</p>
<p><strong>Outlook</strong></p>
<p>Nextpower revised its revenue outlook to $3.43 billion to $3.5 billion, up from its previous outlook of $3.28 billion to $3.48 billion.</p>
<p>Revised net income stood at $525 to $540 million, up from its earlier projections of $499 to $529 million.</p>
<p>The company also revised its adjusted EBITDA to $810 to $830 million, up from $775 to $815 million last year.</p>


Solar Tracker Company Nextpower’s Revenue Rose 34% YoY in Q3 FY 2026


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/01/amazon_polly_88971.mp3?version=1768226802">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Saudi Arabia’s energy and infrastructure developer, <a href="https://abunayyanholding.com/" target="_blank" rel="noopener">Abunayyan Holding</a> and U.S.-based <a href="https://nextpower.com/" target="_blank" rel="noopener">Nextpower</a> (formerly Nextracker), which specializes in solar tracking systems, have completed the process of the formal incorporation of their previously announced joint venture, Nextpower Arabia.</p>
<p>The joint venture aims at accelerating the deployment of utility-scale solar power projects across the Middle East and North Africa (MENA) region.</p>
<p>Nextpower Arabia will combine Abunayyan’s 75 years of experience in water and energy infrastructure in Saudi Arabia with Nextpower’s solar power capabilities.</p>
<p>Khalid Abunayyan, Chairman of Abunayyan Holding, said, “Partnering with Nextpower strengthens our role in advancing Saudi Arabia’s clean energy vision by localising advanced manufacturing and technologies, building local capacity development, and creating lasting value for generations to come.”</p>
<p>As a part of this new venture, the company will establish an advanced manufacturing facility in Jeddah to produce solar tracking systems, yield management, and control solutions for large-scale solar projects throughout the region.</p>
<p>The project, which is being constructed on a 42,000-square-meter area, will be operational in the second quarter of 2026, and the facility is designed to achieve a manufacturing capacity of 12 GW annually and support around 2,000 jobs, which will help the region.</p>
<p>Dan Shugar, founder and Chief Executive Officer at Nextpower, said, “Saudi Arabia is a strategic market for Nextpower as we expand our ability to serve customers across the Middle East. The Kingdom is making significant progress in advancing the energy transition, and we’re proud to support these monumental initiatives with proven solar technology and trusted local partnerships. Abunayyan Group’s regional expertise and alignment with our business focus make them the right partner to help deliver greater value for customers in the region.”</p>
<p>The partners anticipate about $88 million in funding over the next two years to build out the facility and strengthen the joint venture’s operations. This capital will facilitate the buildout of the state-of-the-art manufacturing facility and development of highly skilled technical and engineering capabilities with a track record in operational excellence.</p>
<p>Last month, Arabian Qudra, a subsidiary of Abunayyan Holding and a regional project developer in the power and water sector, <a href="https://www.mercomindia.com/mena-weekly-round-up-acwa-power-bapco-energies-sign-solar-plus-bess-deal" target="_blank" rel="noopener">announced</a> an agreement with the Saudi Water Authority to develop the country’s first floating solar project.</p>


nextpower

Get the most relevant India solar and clean energy news.

RECENT POSTS