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.
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