We are advising Nextpower on the transaction

Davis Polk is advising Nextpower Inc. on its definitive agreement to acquire Prevalon Energy LLC for total consideration of up to $365 million, comprising approximately $150 million in initial cash, $50 million in stock consideration to be issued one year after closing and up to $165 million of contingent cash consideration.

Nextpower designs, engineers and delivers an advanced energy technology platform for solar power plants across structural, electrical and digital domains. The company provides integrated solutions designed to streamline project execution, increase energy yield and enhance long-term reliability for utility-scale power generation systems.

Prevalon Energy, a joint venture between Mitsubishi Power Americas and EES, provides integrated battery energy storage solutions for utility-scale and industrial power applications. Prevalon Energy’s technology platform supports grid-connected storage, AI data centers, industrial power systems and private grid applications.

The Davis Polk corporate team includes partners Michael Gilson and Emily Roberts, counsel Joseph G. Marano and associates Dove Barbanel and Cole Davis. Partner Patrick E. Sigmon and associates Shea Jendrusina and Zoey Chau are providing tax advice. Partner Travis Triano and counsel Justin Alexander Kasprisin are providing executive compensation advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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