NEXTracker gets Brazil local content compliance

By Andy Colthorpe
May 18, 2016

NEX­Track­er has received cer­ti­fi­ca­tion for com­pli­ance with Brazil­ian domes­tic con­tent rules for its man­u­fac­tur­ing oper­a­tions, open­ing access to favourable cred­it lines for the company.

The firm, which topped the rank­ings for North Amer­i­can solar PV track­er sales in 2015 accord­ing to a report out from research firm IHS ear­li­er this week, has estab­lished facil­i­ties in Brazil co-locat­ed with the premis­es of its recent new own­er, man­u­fac­tur­ing spe­cial­ist Flextronics.

NEX­Track­er said today that FINAME accred­i­ta­tion, a state pro­gramme that will allow the firm to receive local devel­op­ment bank cred­it lines, means pro­duc­tion of its devices includ­ing the NX Hori­zon track­ers com­ply with Brazil­ian Devel­op­ment Bank (BNDES) rules for local con­tent and man­u­fac­tur­ing process­es. Under the pro­gramme, firms are eli­gi­ble to receive a per­cent­age of financ­ing for cap­i­tal goods pur­chas­ing of as much as 80%.

Brazil rep­re­sents a bound­less new fron­tier for solar deploy­ment. In addi­tion to serv­ing this impor­tant mar­ket, we’re delight­ed to be con­tribut­ing to the Brazil­ian econ­o­my by adding new, high-qual­i­ty solar jobs,” CEO Dan Shugar said, adding that the accred­i­ta­tion “solid­i­fies our abil­i­ty to deliv­er sig­nif­i­cant vol­umes” of track­ers in Brazil.

NEX­Track­er estab­lished its Brazil oper­a­tions last autumn.

From nothing to US$300 million in less than two years’

In Octo­ber, Nan­cy Pfund of DBL Part­ners, an invest­ment firm focus­ing on only adding com­pa­nies which have a pos­i­tive social impact as well as healthy returns to its port­fo­lio, said that it had achieved a “fan­tas­tic exit” from invest­ing in NEX­track­er when the com­pa­ny was sold to Flextronics.

To read the full arti­cle, vis­it PVTECH.