First Solar Inc., a global provider of photovoltaic (PV) solar solutions, has completed the sale of its North American operations and maintenance (O&M) business to NovaSource Power Services, a portfolio company of Clairvest Group Inc. and Clairvest Equity Partners VI.
“We’re excited to partner with the First Solar O&M team,” says Jack Bennett, CEO of NovaSource. “The opportunities that lie ahead to maximize value for our customers are significant. Joining forces with First Solar will allow us to build upon each other’s strengths and invest in all areas critical to the business including digital platforms, field operations, supply chain, customer service and more.”
Upon closing of the transaction, approximately 270 First Solar O&M associates joined NovaSource. The company says it is now the largest global solar O&M provider through the combination of its three O&M business units: the O&M units acquired from both SunPower and First Solar along with the private company SunSystem Technology. Under the NovaSource banner, the company has the capabilities to service utility, commercial, industrial and residential-scale solar operations.
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