Overview
- Nextpower finalized its acquisition of Prevalon on Monday, closing a transaction valued at up to $365 million in cash and stock.
- The purchase adds Prevalon’s more than 6 GWh of deployed large‑scale battery energy storage systems plus its power control software and lifecycle services to Nextpower’s platform.
- Tom Cornell will continue to lead the Prevalon team within Nextpower, and eligible former Prevalon employees were granted inducement awards to support retention during integration.
- Nextpower raised its FY2027 outlook after the closing, lifting revenue to about $4.0–4.4 billion and adjusted EBITDA to $845–930 million.
- The acquisition is the latest step in Nextpower’s multi‑deal push beyond solar trackers to build an integrated power‑technology provider that serves utilities, hybrid plants and data centers.