Nextpower acquires Apex Power from Zigor Corporation to expand solar and battery storage inverter capabilities
Type: Acquisition · Technology: Solar · Country: United States · Announced: 2026-05-19
Nextpower, formerly Nextracker, agreed to acquire Apex Power, the U.S. subsidiary of Spanish power electronics manufacturer Zigor Corporation (ZGR), for approximately $80.5 million in cash to bolster its solar energy conversion capabilities. The acquisition targets Apex Power's modular inverter technology designed for solar, battery storage, and data center applications, including 1500V solar inverters and systems scalable up to 5.2 MVA. Nextpower plans to accelerate U.S. inverter manufacturing capacity starting in 2027, with $50 million earmarked for growth initiatives including data center and battery storage market entries. The deal is subject to Spanish government approval for foreign direct investment (IED) and other customary conditions, with $46 million payable at closing and up to $34.5 million contingent on financial milestones. ZGR established Apex Power in 2024 to develop solar inverters, battery storage systems, and EV chargers tailored to U.S. market specifications, including 1500V central inverters and 3MW-4.5MW battery storage solutions.
Counterparties
- Nextpower (Buyer)
- Apex Power (Seller)
- Zigor Corporation (Parent Company)