Independent global testing and certification body UL (Underwriters Laboratory) has acquired renewable energy engineering services and support firm, AWS Truepower for an unspecified sum.
UL noted that the AWS Truepower acquisition would strengthen its full lifecycle solutions for wind and solar energy sectors as both sectors growth has resulted in increased demand for energy assessments of new projects and ongoing support analysis.
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“There is strong alignment between the two brands,” said Jeffrey Smidt, VP & General Manager for UL Energy & Power Technologies. “UL and AWS Truepower have a shared mission and complementary businesses. As the market for renewable energy increases and demands a full life cycle service offering for renewable energy projects, the combined portfolios enable us to capture additional business globally.”
AWS Truepower was said to have worked on the design and assessment of over 120,000MW of renewable energy projects, both on land and offshore, in over 80 countries with pilot projects started in the mid-1980s.
The company has claimed to have provided solar services for projects totalling over 10,000MW.
As the market for O&M services expands, increased consolidation in the O&M sector has also occuring.
A report in late 2015, highlighted that the global market for utility-scale PV operations and maintenance (O&M) would expand to 390GW by 2020 — almost triple the estimated 133GW expected by the end of 2015.