Solar PV solutions provider Nextpower has entered into a definitive agreement to acquire BESS system integrator Prevalon Energy for up to US$365 million.
The acquisition would mark Nextpower’s entry into the utility-scale battery energy storage system (BESS) market; however, it is not its first time in the BESS space.
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Indeed, in 2017, the company – then still known as Nextracker – partnered with flow battery maker Avalon Battery to launch the NX Fusion and NX Fusion Plus. Our colleagues from Energy-storage.news spoke, at the time, with Nextpower’s CEO, Dan Shugar, about developing and selling energy storage systems.
Nearly a decade later, Nextpower reenters the BESS market, this time with the acquisition of Prevalon, which is expected to extend its technology platform across BESS and intelligent control for critical power infrastructure.
The company forecasts that by 2030, the global demand for BESS will reach US$35 billion, of which US$15 billion will be in the US.
Prevalon Energy is a spin-out from Mitsubishi Power Americas, specifically from Mitsubishi Heavy Industries’ BESS division, and has so far deployed more than 6GWh of BESS systems globally and 1.3GW of firm supply contracts supporting AI and hyperscaler data centre infrastructure deployments. The transaction is expected to close in the third quarter of 2026 (Q2 of the company’s fiscal calendar), subject to customary regulatory approvals and closing conditions.
As covered by our colleagues at Energy-storage.news (subscription required), Prevalon’s main BESS contract manufacturer is China-based Clou Electronics, part of conglomerate Midea Group, which is known in large part for air conditioning systems.
“Many of our customers have rapidly expanded their storage programs and asked us to extend Nextpower’s platform into power conversion and BESS to deliver fully integrated firm power solutions,” said Dan Shugar, founder and CEO of Nextpower.
“Together with our recently announced and complementary power conversion acquisition, we expect that Prevalon’s BESS platform will open new market opportunities for Nextpower in AI data center power supply applications.”
Nextpower continues acquisition spree
The recent power conversion acquisition that Shugar refers to is of Spain-based Zigor Corporation and its US subsidiary, Apex Power, earlier this month. The transaction valued at approximately US$80.5 million and comes only a few months after Nextpower started testing its own power conversion technology at the beginning of 2026.
When the company rebranded from Nextracker to Nextpower in November 2025, it reflected its evolution from a tracker supplier to a full-platform provider of integrated energy solutions following a spree of acquisition in the past couple of years.
The acquisitions cover an array of sectors, including steel frames with Origami Solar, AI and robotics companies, electrical balance of system (eBOS) with Bentek Corporation or Ojjo and Solar Pile International in the solar foundation field.
Prevalon’s acquisition further expands the company’s growth into an integrated energy technology platform spanning structural systems, electrical infrastructure, power conversion, energy storage, controls, automation, and software.
Furthermore, in relation to the acquisition, Nextpower has raised its fiscal year 2027 outlook – which begins in April – and expects its revenue to be between US$4-4.4 billion, up from US$3.8-4.1 billion in the previous outlook. It has also increased its adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) outlook from US$825-900 million to US$845-930 million.
