Belectric sells US O&M business

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Belectric

Texas-based energy firm Consolidated Asset Management Services (CAMS) has acquired developer Belectric’s US solar operations and maintenance (O&M) business.

Belectric’s portfolio comprises 141 operating sites in 11 states in the US, and covers close to 3GW of capacity for O&M services globally.

CAMS’ chief operating officer, Greg Bobrow, said the acquisition bolsters the company’s “existing capabilities and markets in the power generation industry” as it seeks to transition to renewables. The developer and asset manager oversees around 3.5GW of renewable energy capacity in the US.

Explaining the decision to acquire the solar group’s O&M business, Bobrow said that CAMS’ clients are “increasingly focused on the transition of energy generation towards renewable sources.”

“CAMS always looks for ways to support an improved environment while at the same time providing cost savings and creating value for our customers. We at CAMS look forward to a growing marketing presence in the solar energy space.”

A number of solar businesses have sold their O&M arms in the past year. First Solar sold its O&M arm to NovaSource, owned by Canadian private equity firm Clairvest Group last August as it could no longer “justify incremental capital investment” in the sector, while SunPower sold its O&M branch to Clairvest in March.

Read Next

September 6, 2022
Indian conglomerate Reliance Industries has acquired a 79.4% stake in US PV software developer SenseHawk via a US$32 million investment.
August 10, 2022
OMERS Private Equity has acquired a minority stake in the Arizona-headquartered solar operations & maintenance (O&M) provider NovaSource Power Services.
August 10, 2022
US O&M provider Borrego has signed its first two utility-scale PV O&M contracts since finalising the sale of its development business unit.
June 22, 2022
Independent power producer (IPP) AMPYR Solar Europe (ASE) and German developer Belectric have agreed to install a pipeline of more than 200MW of solar PV capacity in Germany within the next two years.
June 21, 2022
A steep decline in solar irradiance in Spain earlier this year highlights the need for an interconnected European grid and increased investments in forecasting, according to PV data firm Solargis.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 27, 2022
15:30 AEST (UTC +10)
Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)