Nextpower acquires Prevalon Energy for $365 million

Nextpower, a provider of solar and power technology solutions for utility-scale power plants, has announced it has entered into a definitive agreement to acquire Prevalon Energy, a US-headquartered joint venture between Mitsubishi Power Americas and EES, for total consideration of up to USD 365 million, not including cash to be acquired, comprising cash and stock. 

The acquisition is expected to extend Nextpower’s technology platform across BESS and intelligent controls for critical power infrastructure, according to a press release.  

“Prevalon was the perfect choice for Nextpower to expand into BESS,” said Markus Wilhelm, founder and CEO of Strata Energy. “Both companies are technology focused and understand power, utilities, and complex use cases for customers. Prevalon’s BESS hardware and software platform solves challenging problems for utility-connected and self-powered AI data centers, including inertia support, grid stabilization, contingency management, and GPU AI workload smoothing.”  

“Many of our customers have rapidly expanded their storage programs and asked us to extend Nextpower’s platform into power conversion and BESS to deliver fully integrated firm power solutions,” said Dan Shugar, founder and CEO of Nextpower. “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. Prevalon is already engaged with large hyperscalers with a lean, seasoned team that has a solid track record delivering BESS for utilities and IPPs across a variety of use cases.”

Prevalon’s BESS technology supports applications where power quality, rapid response, and deployment speed are critical, including AI data centers, private grids, grid-connected storage, and industrial power systems 

“Prevalon shares Nextpower’s relentless focus on innovation, quality, reliability, and customer success,” said Tom Cornell, President and CEO of Prevalon Energy. “Operating as part of Nextpower, we can leverage their global reach and deep client relationships. Our customers will benefit from doing business with a reliable, investment-grade partner with decades of experience in power generation and management.”

The transaction is expected to close in Q2 FY27, subject to customary regulatory approvals and closing conditions, the press release said.