Nextpower (previously known as Nextracker), a solar PV solutions provider, 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.

The transaction is expected to expand Nextpower’s product portfolio and capabilities in utility-scale solar power conversion. It would also support its entry into the battery energy storage and data center markets.

The acquired assets include modular, field-deployed inverter technology and engineering talent. According to the company, the technology is suitable for battery storage and solar inverter applications at 1,500 V, repowering applications at 600 V and 1,000 V, and is 2,000 V ready. The modular skid design can be configured up to 5.2 MVA.

Nextpower said the transaction is expected to support the scale-up of inverter manufacturing capacity in the U.S., with production expected to ramp in 2027. In addition, it would allow closer integration of power electronics with its solar trackers, electrical balance-of-systems, and broader technology platform.

“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.”

The closing of the acquisition is subject to foreign direct investment approval by the Spanish government and other customary conditions. The transaction consideration includes about $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 to invest about $50 million in growth initiatives, including efforts to accelerate its entry into the power conversion market.

Upon relevant approvals, the acquired assets, including Apex Power, will be integrated into Nextpower’s operations. The inverter business will operate within Nextpower’s power electronics platform. Zigor will continue to operate its remaining business independently, separate from the assets acquired by Nextpower.

According to Mercom’s recently released Q1 2026 Solar Funding and M&A report, Corporate M&A activity in the solar sector was 47% higher YoY in the first quarter of 2026, with 28 corporate M&A transactions compared to 19 in Q1 2025.

In May 2026, Skycorp Solar Group, a manufacturer of solar cables and solar connectors, signed a share acquisition agreement to acquire the remaining 56% equity interest in Nanjing Cesun Power, a provider of turnkey solar project services.