First Solar recently entered into an agreement to acquire skytron-energy, a subsidiary of AEG Power Solutions, which provides utility-scale PV power plant management systems, O&M services, data monitoring technology, and equipment to solar power plants throughout Europe.
Currently, skytron has installed monitoring and control systems in more than 600 plants across Europe with a total peak capacity of 5 GW, more than doubling First Solar’s global portfolio of monitored assets. The acquisition is subject to consent by the German merger control authorities (“Bundeskartellamt”). Terms of the deal were not disclosed.
The acquisition supports First Solar’s initiative to provide full, end-to-end energy solutions that vertically integrate solar services and solutions. It broadens First Solar’s portfolio of energy assets operated and maintained by the company and establishes an opportunity to offer additional value-added services to both existing and new customers in Europe.
“skytron brings considerable strategic value to our global O&M offering, as well as a pathway to expand our services across the entire solar value chain,” says Bob Callery, First Solar’s vice president of operations and maintenance. “Our combined expertise enables power plants to operate with the reliability of conventional generation resources, further establishing solar as a given part of the global energy mix.”
“Joining First Solar assures that skytron will continue to provide customers leading-edge monitoring, supervision and plant control solution systems,” says Jeffrey Casper, chief restructuring officer of AEG Power Solutions and member of the board of directors. “This deal opens a wealth of prospective growth and development for all parties.”
According to a GTM Research report, skytron grew its monitored fleet by 37% in 2013, and First Solar grew its global monitored fleet by 176% in that same period.
Callery says skytron will operate as a subsidiary of First Solar, and will maintain its own brand identity, which has recognized value in its various markets and operations will continue without disruption.
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