Nextpower, which until last fall was known as Nextracker, transformed utility-scale solar with its tracking technology that boosted energy yields and helped preserve agricultural land.
A rebrand last year hinted at its next act: expanding into more corners of renewable power. Since May, the company has made a series of acquisitions that have solidified a plan to disrupt the inverter market and expand into battery storage.
Nextpower acquired the inverter manufacturer Zigor Corporation, based in Spain, and its U.S. subsidiary Apex Power, as well as Prevalon Energy that deploys battery storage for utilities, independent power producers, and hyperscale data centers. Nextpower also announced plans to acquire Zimmermann PV-Steel Group, a German company that makes solar mounting systems for water and carports.
Dan Shugar, Nextpower’s CEO who founded the company in 2012, told Latitude Media that he always envisioned expanding into additional products and services, and has spent the recent years talking to customers about their pain points. And after ending 2025 with more $760 million in cash on hand, as well as a billion-dollar line of credit, the timing post-rebrand was right.
The inverter opening
