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SMA inks 10-year O&M service agreement with TerraForm Power

Source: SMA Solar Technology

November 28 (Renewables Now) - SMA America, the US subsidiary of German inverter maker SMA Solar Technology AG (ETR:S92), announced Wednesday a 10-year framework agreement to provide operations and maintenance (O&M) services for TerraForm Power Inc (NASDAQ:TERP)

The agreement with the US renewable power producer covers about 1 GW of its solar portfolio, in particular its North American operations. Starting early next year, the companies will sign long-term project-level service agreements, transitioning operations to SMA.

SMA's expertise will help lower the operational risk for TerraForm Power, while also being in line with the US company's strategy of maximising production and improving reliability, according to the statement.

With the latest contract, SMA is now responsible for 3.2 GW of O&M service in the Americas region and 4.5 GW worldwide, the company said. In addition, SMA inverters with a combined output of 75 GW have been installed in over 190 countries around the world.

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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