Nextpower joins the BESS market with an eye on the enormous opportunity as the AI data center build-out continues to rely on power.
From ESS News
Nextpower has announced a major move into energy storage, with a stock exchange update that it has “entered a definitive agreement” to acquire Prevalon Energy, a US-headquartered joint venture between Mitsubishi Power Americas and EES, for up to $365 million in cash and stock.
California-based Nextpower announced its corporate rebranding from Nextracker in November 2025, as it said it had evolved from solar tracking into a full-platform company. It already acquired Origami Solar, known for its US-made steel framing and roll-forming fabrication for solar modules, while this month it also acquired power conversion technology for inverters, as part of a deal to “acquire complementary assets of Zigor Corporation’s power conversion business and its U.S.-based subsidiary, Apex Power.”
Focusing on this deal, Prevalon first emerged from Mitsubishi Power in early Feb 2024 as it was set up as a standalone company around that time to focus harder on the BESS market. From 3 GWh at that point, it now has more than 6 GWh of BESS systems deployed globally and what the companies said is a further 1.3 GW of firm supply contracts supporting AI and hyperscaler data center infrastructure.
