Nextpower has signed a definitive agreement to acquire the power conversion business of Zigor Corporation and its subsidiary, Apex Power, for up to $80.5 million. The deal secures modular inverter technology, enabling Nextpower to expand into battery storage and data center markets while establishing U.S.-based manufacturing by 2027.
Nextpower has moved to vertically integrate its technology stack by acquiring the power conversion assets of Zigor Corporation and its U.S. unit, Apex Power. According to official disclosures, the transaction includes a $46 million initial cash payment with an additional $34.5 million in performance-based earnouts. Nextpower is a major provider of solar tracking and power generation systems, while Zigor is an industrial electronics firm specializing in power electronics and energy storage solutions. Beyond the purchase price, Nextpower intends to invest an incremental $50 million to accelerate its entry into the inverter and storage sectors.
This acquisition is significant as it transforms Nextpower from a component supplier into a full-system provider. By securing 1500V modular inverter technology and 2000V-ready designs, the company can now offer integrated powertrains that combine solar trackers with advanced power electronics. This integration is designed to lower procurement complexity and improve energy yields for utility-scale developers. Furthermore, the move facilitates a strategic pivot into high-growth segments, specifically battery energy storage systems (BESS) and the energy-intensive infrastructure required for AI-driven data centers. For the renewable energy and technology industries, the deal highlights a trend toward domesticating supply chains. Nextpower expects to ramp up U.S.-based manufacturing for these inverters by 2027, positioning itself to benefit from local content incentives.
For investors and stakeholders, the acquisition mitigates the risks associated with third-party inverter reliability while expanding the company’s total addressable market. The closing remains subject to regulatory clearance, including foreign direct investment approval from the Spanish government, but once finalized, it will consolidate Nextpower’s position as a dominant architect of advanced grid infrastructure.
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