US solar firm Nextpower enters energy storage market through acquisition of BESS maker Prevalon

Prevalon Energy, a US-headquartered battery energy stationary storage (BESS) manufacturer, has been acquired by solar and energy project software integration company Nextpower for US$365 million. Nextpower offers energy management systems as well as hardware for solar energy projects, and with this acquisition is looking to gain market share in the solar-plus-storage co-location market. Prevalon was formed in 2024 as part of a joint venture between Mitsubishi Power and EES, although Mitsubishi has been in the energy storage market since the early 2010s. It currently has 6.4GWh of energy storage deployed, predominantly in the US, Chile, the UK and Japan.