Solar PV solutions provider Nextpower has entered into a definitive agreement to acquire Germany-based solar provider Zimmermann PV-Steel Group.
The total consideration for the transaction comprises cash and stock of up to €330 million (US$378 million) and is expected to close in the second half of Nextpower’s fiscal 2027.
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This is the latest acquisition from Nextpower, which has been expanding its solar portfolio in the past two years, and also marks the company’s “next chapter” internationally, according to its CEO and founder, Dan Shugar. Nextpower added that the acquisition will broaden its product portfolio and deepen its regional presence in the European market.
It is also the third acquisition since the company changed its name from Nextracker to Nextpower. It recently also entered the utility-scale battery energy storage system (BESS) market with the acquisition of US BESS integrator Prevalon Energy.
Zimmermann’s acquisition is the second European company that Nextpower has acquired in the past month, after entering into a definitive agreement with Spain-based Zigor Corporation and its US subsidiary, Apex Power, to acquire its power conversion assets.
“With Zimmermann, we will significantly expand our product platform and add complementary market presence and supply chain capability in Europe and beyond. Zimmermann’s structural solutions, including fixed tilt, carports, high-density trackers, innovative agriPV solutions, and floating PV will expand our European portfolio to support a broader range of land-use, permitting requirements, and regional use cases.”
Zimmermann entered the solar PV industry in 2009 and has since deployed more than 20GW of solar PV trackers and supplied mounting systems for over 2,500 solar projects across 58 countries.
In the past couple of years, Nextpower has expanded its solar PV solutions across several segments, 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.
