Nextpower Expands Beyond Solar With Prevalon Energy Acquisition
Nextpower has announced a definitive agreement to acquire Prevalon Energy in a transaction valued at up to $365 million, marking its entry into the battery energy storage (BESS) and AI data center power infrastructure markets.
The acquisition includes a mix of cash and stock and is subject to customary regulatory approvals, including antitrust review. Closing is expected in the second quarter of fiscal year 2027.
Explaining the strategic rationale for the deal, the company stated: “Prevalon was the perfect choice for Nextpower to expand into BESS.”
Prevalon Energy, a joint venture between Mitsubishi Power Americas and EES, has deployed more than 6 GWh of battery energy storage systems globally and reports 1.3 GW of firm supply contracts linked to AI and hyperscale data center infrastructure.
Nextpower said demand from customers has been a key driver behind its expansion into storage and power conversion technologies, stating: “Many of our customers have rapidly expanded their storage programs and asked us to extend Nextpower’s platform into power conversion and BESS.”
The company added that the acquisition is expected to open new application areas in AI infrastructure power supply, stating: “Together with our recently announced and complementary power conversion acquisition, we expect that Prevalon’s BESS platform will open new market opportunities for Nextpower in AI data center power supply applications.”
According to the company, the global market for battery energy storage systems outside China could reach up to $35 billion by 2030, with the U.S. accounting for a significant share of expected demand driven in part by AI-related electricity consumption.
On the integration side, Prevalon highlighted expected benefits from the combination, stating: “Operating as part of Nextpower, we can leverage their global reach and deep client relationships.”
The acquisition follows earlier related transactions by Nextpower aimed at expanding into power conversion technologies used for energy storage and dispatch systems.
Source: nextpower.com
