Solar O&M firm NovaSource Power Services has announced its global operations expansion into Australia with the acquisition of the O&M assets of First Solar in the country.
NovaSource is a portfolio company of Clairvest Group and OMERS Private Equity, the private equity arm of the Canadian Pension Fund.
The expansion into Australia adds approximately 500MW of solar energy production, located across the Australian continent, to NovaSource’s global fleet.
The acquisition signals NovaSource’s continued focus on expanding its platform and driving continued market growth in a strong, renewable energy-focused market, it said.
President for International Operations Timo Moeller said: “We are thrilled to expand NovaSource’s global fleet into Australia’s growing solar market.
“Our team is energized to present our current and future stakeholders through APAC a higher standard of technical services.
“The Company’s global framework, deep knowledge and industry expertise will enable our Australian operations to deliver experienced leadership and long-term value to our customers.”
Currently, NovaSource operates and maintains over 20GW of solar power plants across 11 countries and is a leading operator of battery storage systems.