SMA buys Phoenix Solar O&M arm
SMA Solar Technology has signed a contract to buy Phoenix Solar's European operation and maintenance (O&M) business.
"Operation and maintenance services for PV power plants are an important driver of our growth strategy in the service business," says SMA chief executive Pierre-Pascal Urbon.
"After successfully establishing this business field in North America with 200MW, we are now looking to develop the high-volume European market for SMA through the acquisition of the O&M business from Phoenix Solar."
Phoenix Solar chief executive Bernd Köhler said as his company has a strategic focus on Asia and the US, support for large solar parks in Europe didn't have a strategic perspective any longer.
SMA will acquire from Phoenix Solar a number of customer contracts in Germany, France, Spain and Italy as well as the infrastructure at the Ulm, southern Germany, site and its 18-strong workforce.
The deal depends on a certain minimum number of Phoenix Solar's contract customers approving the transfer of existing O&M contracts to SMA.
Both companies are scheduled to announce second quarter results tomorrow.