Solar PV solutions provider Nextpower has completed the acquisition of battery energy storage system (BESS) integrator Prevalon Energy.
According to Nextpower, the acquisition extends its integrated platform beyond solar PV with a proven portfolio of BESS, energy management software, power control technologies and lifecycle services supporting grid-connected storage, hybrid power plants, AI data centre infrastructure and other critical power applications.
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Prevalon has already deployed more than 6GWh of energy storage systems globally.
Announced in May of this year, the acquisition marks Nextpower’s entry into the utility-scale BESS market and its reentry into the BESS sector after making plans to sell batteries in 2017.
Our colleagues from Energy-storage.news spoke with both CEOs of Nextpower and Prevalon—Dan Shugar and Tom Cornell, respectively—last month about the acquisition and future strategy (subscription required).
At the time, Shugar told our colleagues that Prevalon would operate as a wholly owned subsidiary. Now that the acquisition has been completed, Shugar said that: “The team will continue to be run by Tom Cornell, who led Prevalon as CEO since its founding.”
“Reliable energy storage is foundational to designing, building and operating critical energy infrastructure. The addition of Prevalon expands our ability to serve utility-scale customers and data centres with a broader portfolio of proven technologies from a trusted, bankable partner,” added Shugar.
This year alone, Nextpower has further expanded its solutions portfolio not only with the Prevalon acquisition but also with the acquisition of the power conversion assets of Spain-based Zigor Corporation in May, and more recently with the acquisition of Germany-based solar provider Zimmermann PV-Steel Group last month.
Both the Zimmermann and Prevalon acquisitions have so far been the two largest from Nextpower, each exceeding US$300 million. In the past couple of years, Nextpower also expanded its solar PV solutions across several other segments, such as steel frames with Origami Solar, AI and robotics companies, electrical balance of system (eBOS) with Bentek Corporation and Ojjo and Solar Pile International in the solar foundation field.
