Engineering advisory firm DNV GL has signed an agreement to acquire PV Evolution Labs (PVEL).

One of the top solar module testing companies in US PV industry, PVEL uses its multiple laboratories and outdoor testing facilities to assess new modules and install confidence in potential investors over the most advanced pieces of PV technology.

A merged corporation comprised of four PV companies – DNV, KEMA, Garrad Hassan and GL Renewables Certification – DNL GL delivers independent engineering, technology reviews, design assistance and operation management to multiple projects within the PV industry.

David Walker, CEO of DNV GL – Energy, said: “DNV GL is committed to investing in the capabilities and innovation that will facilitate the next stage of growth and confidence in solar. The lab and field testing capabilities of PVEL complement and enhance our services to our clients who finance, develop and operate PV power plants. Combining the expertise of pioneering companies in the power grid, wind and solar industry increases our ability to support the global energy industry in making the transition to a reliable, affordable and cleaner energy future.”

The acquisition of PVEL should prove to be beneficial to DNV GL, as the US PV market continues to assert itself as one of the prime renewable industries in the nation.

According to a Federal Energy Rregulatory Commission report, solar was the second largest energy source installed in the US in 2013. Renewables now account for 15.9% of total installed US operating generating capacity, more than nuclear (9.25%) and oil (4.05%) combined.