NovaSource Power Services (“NovaSource”) has once again solidified its leadership in the global solar industry, earning the top spot in Wood Mackenzie’s latest Global PV O&M Service Provider report.
The company leads the ranking, “Top 15 Global Players and Their Growth, End of 2024 vs End of 2023,” with almost 32 GWdc of solar assets under management. The ranking, which analyzes the world’s top 15 O&M vendors, highlights NovaSource’s market leadership and consistent growth, cementing its position as the global #1 service provider for the sixth consecutive year.
According to the report, NovaSource closed 2024 with almost 32 GWdc under management, up from 25 GWdc in 2023, a 24% annual growth rate. With the global PV O&M market assessed at 286 GWdc in 2024, NovaSource holds approximately 11% global market share, underscoring its unique scale, reach, and technical expertise.
“Six years at the top of the global O&M rankings reflects more than scale, it reflects trust,” said Akshay Sagar, CEO and President of NovaSource Power Services. “Every GW we manage represents a customer who counts on NovaSource to extract the best performance from their assets. By combining global reach, local expertise, and continuous innovation, we’re ensuring the renewable power sector runs at its highest potential.”
A Global Operator with Local Expertise
Today, NovaSource operates across 5 continents with offices in 7 countries: the United States, Canada, Chile, France, Italy, Morocco, and Australia. The company manages a fleet of over 30 GWdc of solar power plants across key international markets and the majority of U.S. states. With growing capabilities in utility-scale solar PV and battery energy storage systems (BESS), NovaSource is increasingly playing a central role in the clean energy transition.
Strengthening Presence in Australia
NovaSource has recently expanded its presence in Australia, marking a key milestone with its selection by Equis as the long-term O&M partner for the Melbourne Renewable Energy Hub (MREH). Set to become one of the largest battery projects in Australia, the MREH will serve as a cornerstone for strengthening the nation’s renewable energy infrastructure. NovaSource’s involvement reaffirms its expanding expertise in hybrid solar-plus-storage operations.
Driving Growth Through Innovation
Looking ahead, NovaSource plans to expand market share in existing regions and continue investing in digital innovation. A central pillar of this strategy is the rollout of NovaCommand Centers as advanced 24/7/365 control hubs and digital offerings providing real-time monitoring and performance optimization across the company’s global solar and storage fleet. These offerings ensure maximum uptime, efficiency, and asset value for utility, commercial, and industrial customers worldwide.
Exceeding Industry Standards Through Total Asset Optimization
NovaSource consistently delivers assured performance that exceeds industry norms, reinforcing our position as a leader in solar O&M. At the core of this success is our Total Asset Optimization (“TAO”) approach that ensures every aspect of a solar asset is performing at its best.
From real-time performance monitoring to AI-powered field workflows and proactive maintenance strategies, we drive measurable improvements across uptime, output, and cost efficiency. Our TAO methodology integrates technology, data, AI and deep operational expertise to unlock the full potential of each asset, delivering unmatched value and reliability to our clients.
About NovaSource Power Services
NovaSource Power Services (“NovaSource”), a portfolio company of Clairvest Group Inc. (“Clairvest”, TSX: CVG) and OMERS Private Equity, the private equity arm of OMERS, is the world’s largest independent solar operations and maintenance (“O&M”) provider, delivering excellence through data-driven strategies, innovative solutions, and a world-class culture of safety, integrity, and quality.
NovaSource’s comprehensive approach to total asset optimization in addition to operations and maintenance includes value engineering, performance analysis, strategic supply chain management, and advanced monitoring systems. The company operates in key global markets and across most U.S. states managing over 30GW of solar power plants. NovaSource’s expertise extends beyond solar and includes battery energy storage systems (BESS), offering a complete suite of services for the evolving renewable energy landscape. For more information about NovaSource Power Services, please visit www.novasourcepower.com or follow @NovaSourcePower on LinkedIn
