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 Germany-based Zimmermann PV-Steel Group.

The transaction consideration comprises cash and stock of up to €330 million (~$378 million). The acquisition is subject to customary closing conditions, including required regulatory review. Nextpower expects the transaction to close in the second half of its fiscal 2027.

Zimmermann was founded in 1950 and entered the solar industry in 2009. The company designs, plans, and supplies solar substructures. According to Nextpower, the company has delivered more than 2,500 solar projects across 58 countries and deployed over 20 GW.

Nextpower said the acquisition would broaden its product portfolio and expand its regional presence in Europe. The company said Zimmermann has a market presence in Germany, which it described as one of Europe’s largest solar markets.

Nextpower said the acquisition, along with the recent international launch of NX Gemini, its two-in-portrait tracker, is expected to more than double its addressable gigawatt opportunity in Europe.

After the transaction closes, Zimmermann is expected to operate under the name “Zimmermann PV, a Nextpower Company.” Nextpower said this structure is intended to preserve customer, employee, and regional market continuity while allowing the business to scale through Nextpower’s global footprint.

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

In addition, the company entered into a definitive agreement to acquire Prevalon Energy, a U.S.-headquartered joint venture between Mitsubishi Power Americas and EES, to expand its technology platform across battery energy storage systems and intelligent controls for critical power infrastructure.

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.