Solar Love
  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls

Solar Love

  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls
InvestmentNew TechnologyPVSolar ProjectsStartups

$25 Million Raised By Solar Startup NEXTracker

by Jake Richardson February 10, 2015
written by Jake Richardson February 10, 2015
nextracker

Fremont, California–based solar technology startup NEXTracker has raised $25 million in equity and growth capital financing. The company makes single-axis PV trackers, which position solar panels in relation to the sun as it moves through the sky in order to increase exposure and produce more electricity. The company’s technology can also reduce installation and operation costs.

nextracker

SJF Ventures, Tennenbaum Capital Partners, Sigma Partners, and DBL Investors have all provided funding for NEXTracker.

“NEXTracker is led by successful solar veterans who have developed new tracking systems which are increasing the profitability of utility-scale solar power in many countries. This financing will ensure that NEXTracker’s technology helps even more solar project owners surmount design and installation challenges, while driving down the cost of solar deployment,” explained managing director and co-founder Dave Kirkpatrick.

The new funding will be used to increase production. The company is now capable of delivering 200 MW/month and has expanded its staff to other continents like South America, Asia, and Australia.

In the second quarter of 2014, NEXTracker provides its technology to a 73,000 kW commercial solar power plant in Calama, Chile. Atacama Chile is the site of another commercial solar plant the company supplied its tracking technology to, this time for a 69,000 kW facility. A solar plant in Honduras also utilized NEXTtracker technology in the same period for a 57,000 kW site.

In 2013, the company collaborated on a solar installation at Sardinia, Italy. “We are very excited about the Solaria horizontal single-axis tracking system. Our crew was able to install it in record time. The tracker’s low number of piers and innovative design enabled significant acceleration and cost reduction during the installation process. Solaria’s experienced team of tracker engineers provided tremendous support and worked closely with our team in the field during the installation and the commissioning of the plant,” explained Luciano Serra, President, Euroenergy S.p.A. If the references to Solaria are confusing, NEXTracker was spun out of Solaria.

The Sardinia solar plant has a capacity of 2020 kW.

NEXTtracker tracking technology is self-powered, so wiring for solar panel installations is simpler. It also makes it possible to move the trackers relatively quickly to a position that can protect them from high winds or hail.

ChileItalyNEXTtracker
0 comment
0
FacebookTwitterPinterest
Jake Richardson

has been writing about solar energy for years on sites like CleanTechnica, Care2, and Planetsave. He enjoys the outdoors and is passionate about protecting life on this planet. You can connect with Jake on Google Plus.

previous post
73 MW Solar Project To Be Built By Former Gang Members
next post
Solar Power Technology Approved: Reduces Installation Costs 30-50%

You may also like

Mitsui To Partner With Indian Company For Distributed...

June 10, 2019

India’s NTPC Offers Solar Project Management Services To...

June 9, 2019

Equinor & Scatec Solar Complete 162 Megawatt Brazilian...

November 29, 2018

Gamesa Awarded 400 Megawatt Solar Project In Egypt

November 29, 2018

Neighborhood Power Installing 10 Megawatt Solar Bifacial+Tracker Project...

November 20, 2018

EDF Renewables Commissions 110 Megawatts Of Solar In...

October 30, 2018

Maui Switches On Another 2.87 Megawatts Of Solar...

October 8, 2018

Capital Dynamics Acquires 121 Megawatt Springbok 3 Solar...

September 27, 2018

EnSync Energy Sells CAL FIRE Solar PPA Project...

August 20, 2018

India Shows More & More Appetite For Solar...

June 4, 2018

Follow Me

Facebook

Recent Posts

  • Meet PVCase: A 3D Solar Design Software That Every PV Designer Should Consider

    June 12, 2019
  • Mitsui To Partner With Indian Company For Distributed Solar Projects

    June 10, 2019
  • India’s NTPC Offers Solar Project Management Services To ISA Members

    June 9, 2019
  • Equinor & Scatec Solar Complete 162 Megawatt Brazilian Solar Plant

    November 29, 2018
  • Gamesa Awarded 400 Megawatt Solar Project In Egypt

    November 29, 2018
  • Facebook

@2019 - All Right Reserved solarlove.org


Back To Top