NV Energy is a company founded by Nvidia founder and CEO Jen-Hsun Huang.
In December, NV Energy reported a quarterly profit of $1.2 billion.
Nvidia shares rose more than 2 percent in after-hours trading.
NV Energy also announced a $7 billion merger with Samsung Electronics Co., the biggest tech merger in the U.S. in more than two decades.
(The terms of the deal were not disclosed.)
In a blog post on Wednesday, Nvidia said that while the acquisition of NV Energy was announced in November, the two companies have been “in discussions with each other for several months.”
“While we are currently focused on the business, we will continue to work with our partners to continue to innovate,” the blog post said.
(Nvidia declined to comment on the merger.)
The post said the companies had been discussing the future of NV’s technology portfolio for the past few years.
NV was also one of two technology companies that joined forces to build the world-leading battery manufacturing plant in the Philippines.
In February, Nvidia announced it was moving into the Philippines as part of a larger global expansion.
“As we look forward to moving forward with the acquisition and the acquisition is now fully operational, we’re very excited about what this new partnership will bring to the industry,” the company wrote in a statement.
Nvidia has been a strong supporter of the renewable energy industry, with its research on solar and wind power.
The company has also become a major player in solar and other forms of renewable energy, having become one of its biggest investors in 2016.
In the first half of 2018, NV had a total of $3.4 billion in total sales.