Nextpower to purchase Prevalon Energy for up to $365 million to capture utility-scale BESS market

Nextpower has agreed to acquire energy storage joint venture Prevalon Energy for up to $365 million in cash and stock. The transaction expands Nextpower's utility-scale platform into battery energy storage systems and intelligent power grid software.

A definitive agreement has been reached for Nextpower to acquire Prevalon Energy for a total consideration of up to $365 million, excluding acquired cash balances. According to official corporate disclosures, the transaction will be financed through a combination of cash and equity, with the final closure anticipated in the second quarter of fiscal 2027 subject to antitrust reviews and customary closing conditions. Nextpower is a publicly traded provider of solar and power technology hardware for utility-scale facilities, while Prevalon Energy is a US-headquartered joint venture specializing in battery energy storage systems, modular hardware, and control software.

This acquisition integrates heavy-duty energy storage and grid-stabilization software into Nextpower’s existing hardware portfolio. The consolidation heavily impacts the global renewable energy infrastructure, electrical utility, and specialized data center power sectors. By absorbing Prevalon's hardware and its proprietary operational software, Nextpower addresses growing power reliability demands from self-powered artificial intelligence data centers, which require rapid-response workload smoothing and grid stabilization. On a policy and corporate level, the transaction repositions Nextpower to capitalize on a global battery storage market projected to reach $35 billion by 2030 outside of China, with the US representing up to $15 billion of that demand. Following the announcement, Nextpower adjusted its fiscal 2027 corporate guidance upward, forecasting revenue between $4.0 billion and $4.4 billion, alongside an adjusted EBITDA range of $845 million to $930 million.

For institutional investors and power project developers, this consolidation establishes an integrated, investment-grade partner capable of delivering comprehensive structural, conversion, and firm storage systems under a unified platform.