Solar O&M provider NovaSource expands in Europe with acquisition

The Texas-based company’s latest deal follows a recent merger with another U.S. operations and maintenance company.

February 2, 2021 Joe Bebon

Partial financing by a green bank would reduce risk for private investors and encourage rapid expansion of private sources capital, a report by the National Academies said.

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A week after unveiling a merger agreement, solar operations and maintenance (O&M) provider NovaSource Power Services has announced another expansion deal.

The company said it has acquired France-based commissioning specialist BALIAN Energy, marking NovaSource’s first European acquisition and expanding its international presence. Financial details were not disclosed.

NovaSource, a Texas-based portfolio company of Canadian private equity firm Clairvest Group, announced a merger with California-based SunSystem Technology in late January.

NovaSource also took over the O&M businesses of SunPower and First Solar last year. The company said it currently manages more than 3.5 GW of commercial, industrial, and utility-scale projects.

BALIAN Energy adds global experience to NovaSource’s team, having commissioned over 1 GW of PV power plant projects in 16 countries.

According to NovaSource, additional services include performance optimization, construction/design due diligence capabilities, and enhanced engineering solutions.

NovaSource CEO Jack Bennett said the company has seen demand for independent commissioning services “grow rapidly as the solar industry continues to mature.”

Thibaut Coly, founder and CEO of BALIAN Energy, is slated to lead NovaSource’s global field service and commissioning operations.

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