1 April 2021
First Solar completes sale of North American O&M business to NovaSource
Following last August’s purchase agreement, cadmium telluride (CdTe) thin-film photovoltaic module maker First Solar Inc of Tempe, AZ, USA has completed the sale of its North American Operations and Maintenance (O&M) business to NovaSource Power Services (a portfolio company of Toronto-based private equity firm Clairvest Group Inc).
On closing of the transaction, about 270 First Solar O&M associates joined NovaSource. The acquisition makes NovaSource the largest O&M provider globally.