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 are excited to be working with the First Solar O&M team,” said Jack Bennett, CEO of NovaSource. “The opportunities that lie ahead of us to maximize value for our customers are significant. By working with First Solar, we can build on each other's strengths and invest in all areas critical to the business, including digital platforms, field service, supply chain, customer service and more. “
Upon completion of the transaction, approximately 270 First Solar O&M employees joined NovaSource. The company claims to be the largest global solar O&M provider through the combination of its three O&M business areas: the O&M units acquired from SunPower and First Solar and the private company SunSystem Technology. Under the NovaSource banner, the company has the ability to serve utility, commercial, industrial and residential solar operations.
You can find more information about First Solar here.