The solar tracker company formerly known as Nextracker has crossed another milestone in its quest to become a one-stop shop for power plant design, deployment, optimization, and long-term operations.
On Monday, Nextpower completed its previously announced acquisition of utility-scale battery energy storage system (BESS) company Prevalon Energy, formally marking its entry into the storage market. The deal to fold in Prevalon, a U.S.-headquartered joint venture between Mitsubishi Power Americas and EES, was valued up to $365 million.
Nextpower now officially owns more than 6 gigawatt-hours (GWh) of energy storage systems deployed worldwide. Its integrated platform now extends far beyond Nextpower’s solar roots, offering a robust portfolio of storage, energy management software, power control technologies, and lifecycle services that support grid-connected storage, hybrid power plants, AI data center infrastructure, and other critical power applications.
“We are very pleased to welcome the talented Prevalon team to Nextpower. The team will continue to be run by Tom Cornell, who led Prevalon as CEO since its founding,” said Dan Shugar, founder and CEO of Nextpower.
“That continuity matters. Customers need partners that know the technology, understand the projects, and stay accountable long after commissioning,” he added in a post on LinkedIn.
According to Shugar, reliable energy storage is foundational to designing, building, and operating critical energy infrastructure. The addition of Prevalon will expand Nextpower’s ability to serve utility-scale customers and data centers with a broader portfolio of proven technologies and also provides Shugar with a significant foothold in one of the fastest-growing segments of the global power industry. Nextpower projects global demand for storage outside China could represent an opportunity of up to $35 billion by 2030, with the U.S. accounting for up to $15 billion.
“As demand for electricity accelerates, utilities, power producers, data center developers, and grid operators need accountable, bankable partners that can deliver reliable, dispatchable power at unprecedented scale and speed,” he stated. “With our customer-centric approach, reputation for high-quality execution, and proven ability to rapidly scale, Nextpower is uniquely positioned to serve both continued growth of utility-scale solar and the rapidly growing energy storage market.”
“That is the future we’re building toward,” added Shugar, sharing a photo of Prevalon BESS alongside Nextpower trackers (above). “Solar, storage, software, and field-proven execution working together.”
Nextracker officially became Nextpower in November, 2025 to better reflect its position as an integrated power technology provider and distance itself from its reputation as a tracker company. Since mid-2024, the firm has been rapidly acquiring new business arms, including:
- Zimmermann PV-Steel Group ($378 million)
In June 2026, Nextpower entered into a definitive agreement to acquire German solar technology company Zimmermann, which specializes in fixed-tilt structures, carports, high-density trackers, and floating PV systems. The deal significantly expands Nextpower’s structural product lineup and doubles its addressable market presence across Europe. Zimmermann was founded in 1950 and expanded into the solar industry in 2009, delivering more than 2,500 solar projects across 58 countries. Fixed tilt represents approximately 50 percent of Europe’s utility PV market today, according to S&P Global, especially in markets such as Germany, France, and Poland. - Zigor Corporation’s power conversion business / Apex Power ($80.5 million)
In May 2026, Nextpower reached terms to acquire complementary assets of Zigor Corporation’s power conversion business and its U.S.-based subsidiary, Apex Power. The transaction is expected to enable rapid scale-up of inverter manufacturing capacity in the U.S., with production ramping up in 2027. It will also expand Nextpower’s product portfolio and capabilities in utility-scale solar power conversion and support its entry into battery energy storage and data center markets. The acquisition will include modular, field-deployed inverter technology and experienced engineering talent. The product technology is suitable for new battery storage and solar inverter applications at 1500V, repowering applications at 600V and 1000V, and is 2000V ready. - Origami Solar ($53 million)
In September 2025, Nextpower (then Nextracker) doled out $53M cash for roll-formed steel solar frame pioneer Origami Solar. Steel frames offer a high-performance alternative to traditional extruded aluminum frames, delivering superior strength and durability, competitive cost, a robust localized supply chain, and a significantly lower carbon footprint. Since folding in U.S.-based Origami, Nextpower has announced major commercial orders for steel modules, including a three-year, 1 GW+ contract with Jinko Solar US. - Bentek Corporation ($78 million)
In May 2025, Nextpower (then Nextracker) acquired U.S.-based Bentek Corporation, an industry pioneer and manufacturer of electrical infrastructure used in all types of solar power plants. Its pre-assembled eBOS solutions are now offered as standalone, industry-compatible components for both trackers and fixed tilt systems, as well as in formats optimized for use in integrated NX Horizon system solutions. Bentek’s U.S. fabrication footprint further enhanced Nextpower’s domestic supply chain position; its products include trunk buses, combiner boxes, configurable harnesses, and more. - Ojjo ($119 million)
In June 2024, Nextpower (then Nextracker) closed on an all-cash transaction to scoop up Ojjo, a developer of specialized ground-mount foundation technology. Ojjo’s patented truss systems are engineered for rocky or difficult soil conditions while using significantly less steel than standard foundations. Integrating Ojjo enabled Nextpower to offer a unified tracker-plus-foundation package to simplify engineering and construction for developers. - AI and robotics suite ($40 million+)
Nextpower (then Nextracker) bolstered its artificial intelligence and robotics capabilities with three acquisitions spanning 2024 and 2025, snapping up SenseHawk IP (AI drone mapping, 3D modeling, digital site commissioning), Amir Robotics (water-free robotic panel cleaning), and OnSight Technology (autonomous inspection and thermal detection robots).
