- NovaSources buys Australian O&M operations of First Solar Inc.
- The transaction’s value was not made public.
The Australian O&M operations of First Solar Inc. have been bought by NovaSource Power Services, a solar operations and maintenance (O&M) expert backed by Canadian private equity firm Clairvest Group Inc.
According to a statement released by NovaSource, finalized on September 30, the purchase increases the worldwide fleet’s total solar capacity by 500 MW across Australia. The transaction’s value was not made public.
The purchase signifies the company’s entry into the Australian market and is a part of its global expansion. It comes after the spring of 2021 acquisition of First Solar’s North American O&M division.
Over 20 GW of solar power facilities owned and operated by NovaSource are located in 11 countries.