Nextpower’s acquisition of Prevalon Energy adds large-scale battery energy storage systems, software, and power control technologies to its portfolio
The deal brings more than 6 GWh of deployed energy storage systems; Prevalon will continue to be led by CEO Tom Cornell
The combined business will serve applications including grid-connected storage, hybrid power plants, and AI data center infrastructure, said Nextpower
US-based integrated energy technology solutions provider Nextpower (previously Nextracker) has officially entered the battery energy storage system (BESS) business following its acquisition of another US-based company, Prevalon Energy, for up to $365 million.
Prevalon Energy, a joint venture between Mitsubishi Power Americas and EES, designs and integrates utility-scale battery energy storage systems. Its acquisition brings more than 6 GWh of energy storage systems (ESS) deployed globally to Nextpower.
The Prevalon acquisition also expands Nextpower’s portfolio beyond solar to include battery storage, energy management software, and power control technologies, as well as capabilities for grid-connected storage, hybrid power plants, AI data center infrastructure, and other power applications.
Nextpower Founder and CEO Dan Shugar said, “The addition of Prevalon expands our ability to serve utility-scale customers and data centers with a broader portfolio of proven technologies from a trusted, bankable partner. It also provides Nextpower with a significant foothold in one of the fastest growing segments of the global power industry.”
Shugar also added that as rising electricity demand drives the need for reliable, dispatchable power, Nextpower – combined with Prevalon’s BESS capabilities – is positioned to support both utility-scale solar and the expanding battery energy storage market.
Prevalon will continue to operate under the leadership of CEO Tom Cornell. Notably, Nextpower raised its FY2027 revenue and EBITDA guidance following the acquisition announcement in May 2026 (see Nextpower Expands Into BESS With Prevalon Energy Deal).
Nextpower’s Prevalon Energy acquisition follows a spate of similar deals the company has announced over the last few months as it expands its product portfolio to become an integrated solutions provider for the utility-scale solar and storage business. This includes the acquisition of inverter and power conversion assets from Spain-based Zigor Corporation and its US subsidiary Apex Power (see Nextpower Expands With Zigor Deal; Reports FY26 Growth).
In June 2026, it followed up with the acquisition of European solar PV mounting solutions provider ZIMMERMANN PV-Steel Group, adding fixed-tilt systems, solar carports, agrivoltaic, and floating solar solutions, along with high-density trackers to Nextpower’s portfolio (see Nextpower To Acquire Zimmermann In Up To €330M Deal).
