Nextpower, an integrated provider of utility-scale solar infrastructure solutions offering trackers, electrical balance-of-system solutions, software, and robotics, has entered into a definitive agreement to acquire Prevalon Energy, a U.S.-headquartered joint venture between Mitsubishi Power Americas and EES, for total consideration of up to $365 million, excluding cash to be acquired.

The transaction includes cash and stock and is subject to customary closing conditions, including antitrust regulatory review. It is expected to close in the second quarter of fiscal year 2027.

Nextpower said the acquisition is expected to expand its technology platform across battery energy storage systems and intelligent controls for critical power infrastructure. The company projected that global demand for battery energy storage systems outside China could represent an opportunity of up to $35 billion by 2030, with the U.S. accounting for up to $15 billion.

Prevalon’s battery storage technology supports applications that require power quality, rapid response, and deployment speed, including AI data centers, private grids, grid-connected storage, and industrial power systems. Its Hybrid Power Stabilizer is designed to manage rapid load changes and support grid stability.
“Both companies are technology-focused and understand power, utilities, and complex use cases for customers. Prevalon’s BESS hardware and software platform solves challenging problems for utility-connected and self-powered AI data centers, including inertia support, grid stabilization, contingency management, and GPU AI workload smoothing. This is a differentiated, competitive advantage that Nextpower’s customers will value,” said Markus Wilhelm, founder and CEO of Strata Energy.

In May 2026, Nextpower entered into a definitive agreement to acquire complementary assets of Zigor Corporation’s power-conversion business and its U.S.-based subsidiary, Apex Power. It is expected to expand Nextpower’s product portfolio and capabilities in utility-scale solar power conversion and would also support its entry into the battery energy storage and data center markets.

Nextpower also raised its fiscal year 2027 outlook, expecting revenue to be approximately $4 billion to $4.4 billion, compared with its previous outlook of $3.8 billion to $4.1 billion.

According to Mercom’s recently released Q1 2026 Solar Funding and M&A report, Corporate M&A activity in the solar sector was 47% higher YoY in the first quarter of 2026, with 28 corporate M&A transactions compared to 19 in Q1 2025.