According to reports, global solar tracker manufacturer, NEXTracker has partnered with APL Apollo Tubes for manufacturing a bulk of its products in India.
According to a press statement, NEXTracker will be increasing its local steel content percentage to over 80 per cent by volume and weight of its final product. NEXTracker also assess that the association with new Indian steel manufacturer reduces shipment time by up to 50 per cent.
Shares of APL Apollo closed 4.91 per cent higher in trade on Thursday.
Steel tubes and piers form the backbone of any solar tracking system, accounting for a sizable portion of the system’s structural cost and weight. These trackers change the direction of solar panels throughout the day to ensure that they face the sun optimising power generation.
Director, Sales and Marketing at APL Apollo Tubes, Sharad Mahendra told BusinessLine, “The tracker manufacturing will start from our facility in Hosur, Tamil Nadu. As and when the requirement comes, we will be in a position to mobilise our other facilities across the country for these products to take care of pan India operations. APL Apollo will be providing the tube component of the tracker.”
Commenting on the company’s plans to set up a full fledged manufacturing facility, NEXTracker’s CEO Dan Shugar said, “As the market continues expanding, we will evaluate additional manufacturing regionalisation on a case by case basis.”