Nextpower, a leading provider of solar and power technology solutions for utility-scale power plants, has entered into a definitive agreement to acquire Prevalon Energy, a U.S.-headquartered joint venture between Mitsubishi Power Americas and EES, for total consideration of up to $365 million, not including cash to be acquired, comprising cash and stock. Closing of the transaction is subject to customary closing conditions, including antitrust regulatory review.
The acquisition is expected to extend Nextpower’s technology platform across BESS and intelligent controls for critical power infrastructure. The company projects that the global demand for BESS outside China could represent an opportunity of up to $35 billion by 2030, with the U.S. comprising up to $15 billion.
