NEXTracker obtains BNDES certification in Brazil
May 18 – NEXTracker Inc has achieved accreditation in Brazil that will allow it to supply its solar trackers to Brazilian projects under attractive financing arrangements.
The US company said today it has been granted FINAME accreditation by the Brazilian Development Bank (BNDES). FINAME indicates compliance with BNDES local content and local manufacturing processes criteria and enables developers to access local development bank credit lines.
“Combined with our local sales and operations, this solidifies our ability to deliver significant volumes of our advanced solar trackers in Brazil,” said chief executive Dan Shuga as he called Brazil “a boundless new frontier for solar deployment”.
In Brazil, NEXTracker is co-located with the manufacturing hub of its owner Flextronics (NASDAQ:FLEX) in Sorocaba, Sao Paulo.
According to recently increased forecasts of Brazil’s federal energy planning authority (EPE), the country’s installed photovoltaic (PV) capacity will reach 7 GW by 2024.
Earlier this week, IHS said that NEXTracker became the top supplier of PV trackers in North America last year.
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