SMA Completes 1GW of Agreements for Contract with Brookfield Renewable

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The two companies have now signed operating and maintenance contracts for more than 500 solar systems in North America with a total capacity of almost 1 GW.

After signing a framework agreement in November 2019, SMA America and Brookfield Renewable have successfully concluded service agreements for an extensive 1 GW solar portfolio with over 500 solar systems throughout North America. The service contracts focus on maximizing energy production and generating revenue using an innovative framework that shares risk and opportunity between the two organizations. SMA is uniquely positioned for this mandate due to its extensive knowledge of inverter technology and its superior banking ability.

The agreement was originally signed by Terraform Power, a wholly owned subsidiary of Brookfield Renewable and its institutional partners.

In recent months, SMA has expanded its service coverage areas across North America and strengthened its back office and support functions in preparation for the provision of services for the Brookfield Renewable Solar portfolio. In addition, SMA’s inverter repowering initiative gained a firm foothold in the US and Canadian markets in 2019. This ability will play a key role in increasing the reliability and power generation of the Brookfield Renewable Solar portfolio. With more than 35 years of experience in photovoltaic technology and extensive knowledge of inverter technology, SMA is uniquely qualified to serve the Brookfield Renewable portfolio.

“We offer our customers a comprehensive range of services that include corrective measures at a single fixed price,” said Bernhard Schuetz, Head of the Service Product Group at SMA Solar Technology. This assurance, together with the service infrastructure and technology know-how of SMA, provides asset owners with the certainty of optimal long-term performance. ”

By using this model, SMA offers plant owners and their financial actors a predictable outlook on operating costs and revenue generation that ensures the project economy’s business case security for the next decade. Similar models have become the standard in other areas of O&M for renewable energy (i.e. wind energy). SMA is taking the lead in offering this comprehensive solar fee structure and can meet this challenge by managing risk through continuous innovation.

SMA’s financial strength and global presence offer unique benefits, making it a strong partner that fully supports Brookfield Renewable’s long-term O&M needs. With these Brookfield Renewable agreements, SMA now manages 3.2 GW of O&M service in the Americas and 4.8 GW worldwide.

About SMA

As the world’s leading specialist for photovoltaic systems, the SMA Group is setting standards today for the decentralized and renewable energy supply of tomorrow. The SMA portfolio includes a wide range of efficient PV inverters, holistic system solutions for PV systems of all performance classes, intelligent energy management systems and battery storage solutions as well as complete solutions for PV-diesel hybrid applications. Digital energy services as well as extensive services including operating and maintenance services for PV power plants round off the SMA range. SMA inverters with a total output of around 85 gigawatts have been installed in more than 190 countries worldwide. The multiple award-winning technology from SMA is protected by more than 1,500 patents and utility models. The Group’s parent company, SMA Solar Technology AG, has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) since 2008 and is listed in the SDAX index.

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