First Solar Inc. FSLR and SOLV, a unit of Swinerton Renewable Energy, joined forces for providing shared Operations and Maintenance (“O&M”) services to utility-scale solar power plants in the U.S.
The agreement between these two major companies will help to deliver the highest level of services to Swinerton customers. The duo will start the venture with the 105 megawatt (MW) DC Utah Hills Renewable Park project in which First Solar will undertake operations management services and SOLV maintenance services. The project was built by Swinerton Renewable at a cost of $188 million.
Making use of First Solar's NERC compliant network operations center (for the documentation of all communication), SOLV will offer the industry’s best renewable monitoring software and data analytics to Swinerton Renewable’s in-house technicians managing the sites.
Headquartered in Tempe, AZ, First Solar designs, manufactures, and sells solar electric power modules using a proprietary thin-film semiconductor technology. It is also engageed in designing and deploying commercial solar projects for utilities.
Swinerton Renewable Energy provides engineering, procurement, construction, and SOLV services for solar photovoltaic plants throughout North America to a diverse range of clients. Swinerton Renewable has delivered more than 850 MW solar projects while its SOLV team manages over 1 GW of photovoltaic plants.
Solar and wind are gradually transforming the way we produce and consume energy, driving the ongoing global energy transition. After months of suffering from collapsing oil prices, green energy companies suddenly seem to be on firmer footing now. The historic Paris climate change summit gave the renewables sector a shot in the arm, while the Congress’ vote to extend federal subsidies for renewable energy has perked up the space.
According to a recent Energy Information Administration (“EIA”) report, utility-scale solar capacity will expand by more than 126% between year-end 2014 and 2016 in the U.S., in tandem with considerable consumption growth in renewables for electricity and heat generation purpose.
The U.S. solar companies like SunPower Corp. SPWR, First Solar, SolarCity Corp. SCTY and SunEdison Inc. SUNE are likely to reap most of the benefits from the current energy consumption transformation.
First Solar carries a Zacks Rank #2 (Buy).
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Click to get this free report FIRST SOLAR INC (FSLR): Free Stock Analysis Report SOLARCITY CORP (SCTY): Free Stock Analysis Report SUNEDISON INC (SUNE): Free Stock Analysis Report SUNPOWER CORP-A (SPWR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research