Nextpower, one of the leading providers of intelligent power generation systems for solar power plants, on May 12th announced it has entered into a definitive agreement to acquire complementary assets of Zigor Corporation’s power conversion business and its U.S.-based subsidiary, Apex Power. Once complete, the transaction will 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.
“With this acquisition, Nextpower will launch a comprehensive inverter offering in response to strong customer requests for reliable, high-quality power conversion solutions, rounding out our integrated platform,” said Dan Shugar, founder and CEO of Nextpower. “We will be in the market with products for solar, storage, and data centers, and building out U.S. manufacturing as quickly as is prudent. Initial customer demand is promising, and we look forward to welcoming the legacy Apex Power and Zigor team members to Nextpower once the transaction closes.”
This 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. The modular skid design can be configured up to 5.2 MVA.
The transaction is expected to enable rapid scale-up of inverter manufacturing capacity in the U.S. with a production ramp expected to begin in 2027. It also supports closer integration of power electronics with Nextpower’s leading solar trackers, electrical balance of systems (eBOS), and broader technology platform. This integration can help improve overall system performance, reduce procurement complexity, and enable faster, more efficient project design and deployment. Intelligent power conversion systems are increasingly utilized in advanced grid infrastructure, including battery storage and energy supply systems designed to support complex, large loads such as AI data centers.
The closing of the acquisition is subject to foreign direct investment (FDI) approval by the Spanish government and other customary conditions. The transaction consideration includes approximately $80.5 million in cash, consisting of $46 million at closing and up to $34.5 million in potential earnouts. In addition to the purchase consideration, Nextpower plans an incremental investment of approximately $50 million related to growth initiatives, including the acceleration of its entry into the power conversion market. These investments are expected to position Nextpower to capture a significant, durable growth opportunity.
Following the relevant approval, the acquired assets, including Apex Power, will be integrated into Nextpower’s operations, with the inverter business operating within its growing power electronics platform. Zigor will continue to operate its remaining business independently, separate from the assets acquired by Nextpower.
To learn more about Nextpower’s complete energy solutions portfolio, visit their official website.
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