PE-backed NovaSource to buy First Solar’s North American O&M unit, How portfolio companies are adapting to covid-19. NovaSource is a subsidiary of Clairvest Group, a Canadian private equity firm. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Click here. The proposed transaction is subject to customary closing conditions, including obtaining various consents and regulatory approvals. First Solar Signs Definitive Agreement to Sell North American O&M Business to NovaSource. it's been delivered there. TORONTO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX:CVG) today announced that NovaSource Power Services ("NovaSource" or "the Company"), a … Press Release First Solar Signs Definitive Agreement to Sell North American O&M Business to NovaSource Published: Aug. 6, 2020 at 4:33 p.m. Solar earnings season is in full swing and, just as SunPower did yesterday, First Solar has now given a full look at how the company dealt with … Only logged in subscribers of this site will be able to access the shared article. First Solar has agreed to sell its North American operations and management business to NovaSource Power Services, the company formed from SunPower’s O&M business, as part of a streamlining to focus on its core business making thin-film solar modules. NovaSource Power Services Acquires First Solar - North American Operations & Maintenance Business On August 6, 2020, NovaSource Power Services acquired renewable energy company First Solar, Inc. - North American Operations & Maintenance Business from First Solar, Inc. First Solar has agreed to sell 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. Financial terms of the transaction were not disclosed. We have just sent you an email so you can verify your account. First Solar sells off its O&M business to NovaSource Deeming that “the strategic thesis behind O&M has changed,” First Solar has sold off its O&M business to the same private equity firm that SunPower did earlier this year. NovaSource acquired SunPower’s O&M … First Solar Inc., a provider of photovoltaic (PV) solar solutions, has entered into a membership interest purchase agreement with NovaSource Power Services, a … Please confirm you would like to remove this article from your saved articles. First Solar, Inc. announced that it has entered into a Membership Interest Purchase Agreement with NovaSource Power Services, a portfolio company of Toronto-based private equity firm Clairvest Group Inc., pursuant to which NovaSource will acquire First Solar’s North American operations and maintenance (O&M) business. First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. First Solar, an American solar panel-maker has agreed to sell its North American operations and maintenance (O&M) business to NovaSource Power Services, for an undisclosed amount. The Company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. August 6, 2020 Tim Sylvia NovaSource acquires First Solar’s O&M portfolio August 8, 2020 by Vikas NovaSource Power Services, a portfolio company of Toronto-based private equity firm Clairvest Group, will acquire First Solar’s North American O&M business. March 25 Click Don't have an account? News: Photovoltaics 7 August 2020. NovaSource Power Services is the new service partner for renewables asset owners - but our pedigree is as old as the solar industry itself. The sale is for an undisclosed amount. NovaSource Power Services, a portfolio company of Canadian private equity firm Clairvest Group, has agreed to acquire the North American operations and maintenance business of First Solar. The Latest News from Clairvest Clairvest Investment Novasource Signs Agreement To Acquire First Solar’s North American O&M Business. First Solar is a leading global provider of comprehensive photovoltaic (“PV”) solar solutions which use its advanced module and system technology. NovaSource oversees some of the most high-profile solar projects in the United States and operates in nine countries. Toronto, Ontario (August 6, 2020) – Clairvest Group Inc. (TSX: CVG) today announced that NovaSource Power Services (“NovaSource” or “the Company”), a portfolio company of Clairvest Group Inc. and Clairvest Equity Partners VI (together, “Clairvest”), entered into an agreement with First Solar, Inc. (NASDAQ: FSLR) to acquire First Solar’s North American operations and maintenance business. 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NovaSource Power Services, a portfolio company of Canadian private equity firm Clairvest Group, has agreed to acquire the North American operations and … DLA Piper is representing First Solar, Inc. in connection with its pending sale of First Solar’s North American Operations and Maintenance Business to NovaSource Power Services, a portfolio company of Toronto-based private equity firm Clairvest Group Inc. The transaction will be funded through a combination of third-party term debt and equity from Clairvest. You should only be asked to sign in once. Date Announced: 12 Aug 2020. About First Solar, Inc. First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. First Solar is shrinking its focus A big change over the next year will be the sale of the O&M business, which is being sold to NovaSource Power Services in … Please check your spam or junk folder just in case First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. Press Release First Solar Signs Definitive Agreement to Sell North American O&M Business to NovaSource Published: Aug. 6, 2020 at 4:32 p.m. Not the case? First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. --Clairvest Group Inc. today announced that NovaSource Power Services, a portfolio company of Clairvest Group Inc. and Clairvest Equity Partners VI, entered into an agreement with First Solar… ET After its completion, almost 220 of First Solar’s employees in the O&M … Cadmium telluride (CdTe) thin-film photovoltaic module maker First Solar Inc of Tempe, AZ, USA has entered into a membership interest purchase agreement for NovaSource Power Services, a portfolio company of Toronto-based private equity firm Clairvest Group Inc, to acquire its North American operations and maintenance (O&M) business. Eastern Standard Time (EST) - Virtual Event, Get limited access to our industry news, analysis and data, plus regular email updates. First Solar has agreed to sell its North American operations and management business to NovaSource Power Services, the company formed from SunPower’s … There can be no assurance that the transaction will be consummated. The US thin-film solar module maker has signed a membership interest purchase agreement for the sale with NovaSource Power Services, it said on Thursday without providing financial details. First Solar to Sell North American O&M business to NovaSource. DLA Piper is representing First Solar, Inc. in connection with its pending sale of First Solar’s North American Operations and Maintenance Business to NovaSource Power Services, a portfolio company of Toronto-based private equity firm Clairvest Group Inc. The company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. A link has been emailed to you - check your inbox. 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