Nextpower Expands into BESS Market with USD 365 Million Prevalon Deal

U.S.-based solar technology company Nextpower has agreed to acquire U.S.-headquartered battery energy storage (BESS) firm Prevalon Energy, a joint venture between Mitsubishi Power Americas and EES, in a deal worth up to USD 365 million, expanding its presence in the battery storage and AI data center power infrastructure markets in the United States. 

The acquisition of Prevalon, a U.S.-based joint venture of Mitsubishi Power Americas and EES, is anticipated to be completed in Q2 of fiscal 2027. The transaction will expand Nextpower’s technology portfolio to include BESS, advanced control technologies, and energy management software for critical power infrastructure. The move follows the Fremont, California-headquartered company’s rebranding six months ago and its expansion beyond solar tracking systems through the addition of power conversion solutions.

Prevalon has installed over 6 GWh of battery energy storage capacity worldwide and has secured 1.3 GW of contracted supply commitments tied to AI-driven and hyperscale data centre projects. Following the announcement, Nextpower upgraded its fiscal 2027 financial guidance to reflect the expected completion of the acquisition. The company now forecasts revenue in the range of USD 4.0 billion to USD 4.4 billion, an increase from its earlier projection of USD 3.8 billion to USD 4.1 billion.

In addition, adjusted EBITDA is now expected to reach between USD 845 million and USD 930 million, compared with the previous guidance of USD 825 million to USD 900 million. Prevalon develops energy storage solutions for a range of applications, including AI-focused data centres, microgrids, utility-scale storage projects, and industrial power networks. Its portfolio features technologies that help manage sudden fluctuations in electricity demand, enhance grid stability, and provide modular battery storage systems integrated with advanced software for monitoring, control, and diagnostics.

The transaction comes shortly after Nextpower announced another strategic acquisition involving the power conversion operations of Spain-based Zigor and its U.S. subsidiary, Apex Power, further strengthening its capabilities in energy infrastructure and power electronics.