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Nextpower Inc. develops intelligent power generation technology and integrated solutions for solar power plants, including solar tracking systems, software-enabled controls and steel module frame technology. News about Nextpower commonly centers on financial results, project and customer awards, supply agreements, regional manufacturing partnerships, and the expansion of its solar technology platform.
Company updates also cover NX Horizon® tracking systems, advanced stow and resilience capabilities, low-carbon tracker initiatives, the Nextpower Arabia joint venture, sustainability targets, credit ratings and capital actions such as share repurchase authorization. The company was formerly Nextracker Inc. before its completed corporate name change to Nextpower Inc.
Nextpower (Nasdaq: NXT) has completed its previously announced acquisition of complementary assets of Zigor Corporation’s power conversion business and its U.S. subsidiary, Apex Power. According to Nextpower, the deal expands its power technology platform with UL-certified central inverters for U.S. utility-scale solar and energy storage and IEC-certified products for Europe and the rest of the world.
The acquisition adds proprietary inverter technology, established supply chain capabilities, and engineering teams in the U.S. and Spain with extensive power conversion experience. Nextpower’s modular, field-serviceable central inverters up to 5.2 MVA are now commercially available in the U.S., communicating via a hard-wired, cyber-secure optical fiber network. The company is accelerating its U.S. manufacturing buildout, with deliveries ramping in early 2027 and over 10 GW of capacity expected online within twelve months.
Nextpower (Nasdaq: NXT) reported Q1 FY27 revenue of $935 million, up from $881 million in Q4 FY26 and $864 million in Q1 FY26, with GAAP gross margin improving to 35.9% and GAAP net income of $165 million (diluted EPS $1.07).
Adjusted EBITDA was $233 million with a 24.9% margin and adjusted diluted EPS of $1.20. The quarter included about $99 million of IRA 45X advanced manufacturing tax credit vendor rebates and tariffs, net. Backlog grew to over $5.5 billion, and the Prevalon acquisition, closed in July 2026, adds incremental backlog above $300 million. Cash and cash equivalents rose to $1.21 billion, supported by $121 million of operating cash flow and adjusted free cash flow of $105 million.
For FY27, Nextpower slightly raised its outlook, guiding revenue to $4.1–$4.4 billion, GAAP net income to $540–$573 million, adjusted EBITDA to $870–$930 million, and adjusted diluted EPS to $4.42–$4.73, including about $50 million of planned incremental costs for accelerating entry into the power conversion market.
Panamint Capital has begun construction on Big Rooter Power, a $1.7 billion, 1.2 GWdc solar PV project at its Twin Oaks power station in Robertson County, Texas, described as the largest solar project at an existing coal mining site in North America.
The first phase, Big Rooter West (491 MWdc), is under construction and targeted for commercial operation in August 2028. The second phase, Big Rooter East (658 MWdc), is expected to start construction in December 2026 and begin operations in August 2029. Panamint expects the projects to create over 800 construction jobs and contribute more than $66 million to the local economy over Big Rooter West’s lifetime.
SOLV Energy (NASDAQ: MWH) will provide EPC services; First Solar (NASDAQ: FSLR) will supply about 2 million modules; and Nextpower (NASDAQ: NXT) will furnish NX Horizon tracker systems and software. The project will use over 34,000 tons of domestically manufactured steel and is backed by a long-term power purchase agreement with a large U.S. company, according to Panamint Capital.
Nextpower (Nasdaq: NXT) has completed its previously announced acquisition of Prevalon Energy, a U.S.-headquartered provider of large-scale battery energy storage systems, power stabilization solutions, and lifecycle services. The deal adds a portfolio supporting grid-connected storage, hybrid power plants, AI data center infrastructure, and other critical power applications, with more than 6 GWh of deployed energy storage systems worldwide.
Prevalon’s team will continue to be led by founder CEO Tom Cornell. In connection with the closing, Nextpower granted former Prevalon employees inducement equity awards totaling 810,733 performance-based PSUs and up to 375,000 service-based RSUs in Class A common stock. RSUs vest over four years, while PSUs vest from 0–100% based on Prevalon gross profit performance between April 1, 2026 and March 31, 2030, subject to continued employment. The awards were approved under Nasdaq Listing Rule 5635(c)(4) and carry terms substantially consistent with Nextpower’s 2022 equity plan.
Nextpower (Nasdaq:NXT) will report first quarter fiscal 2027 financial results on Thursday, July 30, 2026, after the market close.
The company will host a Q1 FY2027 earnings conference call at 2:00 p.m. PT / 5:00 p.m. ET, with a live webcast and replay available on its investor relations website.
Nextpower (Nasdaq:NXT) agreed to acquire Zimmermann PV-Steel Group, a Germany-based solar technology provider with over 20 GW deployed and projects in 58 countries. The cash-and-stock deal totals up to €330 million and is expected to close in the second half of fiscal 2027.
The business is expected to add about €300 million in annual revenue and €45 million in adjusted EBITDA, be accretive, extend Nextpower’s portfolio with four new product lines, and expand its addressable market across 15 additional countries.
Nextpower (Nasdaq:NXT) announced a global launch of its reimagined NX Gemini 2P solar tracker and the NX Anchor integrated foundation system, expanding its European solar portfolio.
The solutions target diverse land and soil conditions, agriPV applications, faster installation, and enhanced tracker control and monitoring capabilities.
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Nextpower (Nasdaq:NXT) agreed to acquire Prevalon Energy, a BESS and energy management provider, for up to $365 million in cash and stock, entering battery storage and AI data center power markets.
Nextpower raised its FY27 outlook, assuming closing in Q2 FY27 subject to regulatory review, guiding revenue to $4.0–$4.4 billion, GAAP net income to $507–$573 million, adjusted EBITDA to $845–$930 million, and adjusted diluted EPS to $4.30–$4.73.