Nextpower is entering the BESS and AI data center energy markets through the acquisition of Prevalon Energy
Prevalon brings over 6 GWh of deployed storage systems and 1.3 GW of AI-related supply contracts to the Nextpower kitty
Following the acquisition, Nextpower has raised its FY2027 revenue and EBITDA guidance
Nextpower (formerly Nextracker) has announced a definitive agreement to acquire Prevalon Energy for up to $365 million. The move marks its entry into the battery energy storage system (BESS) and AI data center power markets.
The acquisition will add Prevalon’s BESS systems, intelligent controls, and energy management software to Nextpower’s solar and power technology. The company believes that the deal would strengthen its position in utility-scale storage, industrial power systems, and AI-driven energy infrastructure.
A joint venture between Mitsubishi Power Americas and EES, the US-headquartered Prevalon Energy has deployed more than 6 GWh of BESS systems globally and holds 1.3 GW of firm supply contracts linked to AI and hyperscale data center projects.
Prevalon’s technology portfolio includes modular storage products and software platforms designed to support grid stability, rapid response, and power quality management.
Nextpower said the acquisition aligns with growing demand for integrated energy solutions capable of supporting utilities, private grids, and energy-intensive AI workloads, as it projects the global BESS market outside China to reach up to $35 billion by 2030. This will include as much as $15 billion in the US.
Dan Shugar, Founder and CEO of Nextpower, said the company’s customers had increasingly requested integrated power conversion and storage solutions. He added that Prevalon’s platform could create new opportunities in AI data center power-supply applications.
Tom Cornell, President and CEO of Prevalon Energy, said operating under Nextpower would provide access to broader global markets and customer relationships while supporting long-term growth.
The transaction is expected to close in the second quarter of FY2027, subject to regulatory approvals and customary closing conditions.
Recently, Nextpower announced the acquisition of Zigor and Apex Power assets as it expands its reach into solar, storage, and data center applications (see Nextpower Expands With Zigor Deal; Reports FY26 Growth).
Following the announcement, Nextpower has revised its FY2026 outlook upward. It now expects to report revenue of $4.0 billion to $4.4 billion, up from prior guidance of $3.8 billion to $4.1 billion. GAAP net income is now forecast to range from $507 million to $573 million (previously $501 million to $559 million), and adjusted EBITDA of $845 million to $930 million (previously $825 million to $900 million).