No plans to set up manufacturing unit in India,says NEXTracker

NEXTracker today said it has no plans to set up a manufacturing unit in India and the US-based sunshine solar tracker maker would rather evaluate options for key mechanical components for local manufacturing.
"We are in the process of setting up a tracker manufacturing facility in India particularly in Northern part of the country to start with," NEXTracker Vice President Emerging Markets Nava Akkineni had told reporters yesterday on the sidelines of a conference here.
However, NEXTracker in a statement issued today said, "We are evaluating options for key mechanical components for local manufacturing. We are not setting up a manufacturing unit in India. We are merely evaluating our options to better serve our customers in India".

"The information shared by Nava Akkineni is not verified by the company," it added.
According to the statement, NEXTracker serves its Indian customers with tracker materials supplied from a global supply base, which includes North America and Asia.
"We have 1GW of signed contracts in India alone (as of August 2016 up to present day) and this includes the CleanMax and Adani projects under construction... As of now, that is only 1 GW, and this does not include another 1 GW of projects for 2017 - as of now," the company said in the statement.
"We have 7 GW of projects worldwide as signed contracts. That means, we have 7 GW of projects of signed contracts that are in process: contract, shipping, delivered and installed/commissioned and operational," it said.

NEXTracker, a Flex group company, manufactures sunshine trackers which enables solar panels and cells to absorb maximum heat and light. This enhances the efficiency of solar power generation by 15-20 per cent.