SMA Solar Technology has signed an agreement to acquire European operations and maintenance activities (O&M business) from Phoenix Solar.
Under the agreement, which sees SMA systematically implementing its growth strategy in the service business, SMA will acquire a number of customer contracts in Germany, France, Spain and Italy as well as the infrastructure at the Ulm site and its 18-strong workforce from Phoenix Solar.
SMA Chief Executive Officer Pierre-Pascal Urbon said: "Operation and maintenance services for PV power plants are an important driver of our growth strategy in the service business.
"After successfully establishing this business field in North America with 200 MW, we are now looking to develop the high-volume European market for SMA through the acquisition of the O&M business from Phoenix Solar.
"We will continue to expand our O&M services in Europe and North America and thus benefit from our outstanding expertise and installed basis."
The O&M business is expected to offer sustainable and stable sales and yields for SMA.
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By GlobalDataPhoenix Solar chief executive officer Dr Bernd Köhler said "However, in view of our strategic focus on Asia and the USA, providing support for large solar parks in Europe was no longer readily compatible. Seen from this standpoint, the business did not have a strategic perspective.
"By contrast, we know that the prospects for our European O&M activities are very good with SMA, and that our former customers will continue to receive the best possible support.
"We will be able to use the proceeds from the sale to reduce our debt and strengthen our core business."
