UL Courting Solar Market With New Acquisition
This article was originally published on Planetsave
“There is strong alignment between the two brands,” said Jeffrey Smidt, vice president & 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.”
In existence for 120 years, UL is a leading independent safety science company promoting safe working and living environments for all people. UL uses research and standards to continually advance and meet ever-evolving safety needs. The concern partners with businesses, manufacturers, trade associations and international regulatory authorities to bring solutions to a more complex global supply chain.
As reported by PV Tech, 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.
Without a doubt, the AWS Truepower acquisition will boost UL’s renewable electricity 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. According to UL,
“The acquisition supports UL’s global expansion strategy as many countries are pushing for energy independence, energy security and environmental sustainability. Hundreds of GW’s of energy capacity installed globally is pushing the demand for energy assessments of new projects coming online and ongoing support. AWS Truepower’s services are crucial in supporting this growing demand.”
The company has claimed to have provided solar services for projects totaling over 10,000MW.
As the market for O&M services expands, increased consolidation in the O&M sector has also occurring.
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.
Image via UL