Martifer Solar, a subsidiary of Portugal's Martifer SGPS, has added close to 90 MW of new third party operations and maintenance (O&M) contracts in Italy.
The company is overseeing the solar plants — located throughout the country — for several clients, including asset fund managers DIF and private equity fund Eland.
Martifer Solar attributed its strong O&M performance in Italy to its "resourceful and qualified local O&M staff, the company's high-quality processes and systems integration as well as its "global industry expertise."
"We are proud when clients such as DIF and Eland rely on our O&M team to complement their asset management services as it demonstrates that the market is recognizing our strength and reliability as a global O&M service provider," said Martifer Solar CEO Henrique Rodrigues.
DIF Associate Director David Lau added, "As our strategy is focused on targeting investments that generate predictable, long-term and stable cash flows, we need to count on a credible and trusted partner like Martifer Solar to provide operation and maintenance services for our assets."
Echoing the sentiment, Eland Managing Partner Miguel Doménech said, "Eland manages private equity funds and we target above market returns for our investors. Martifer Solar's expertise and significant portfolio of PV plants already under O&M management were deciding factors in our choice."
Martifer Solar's global solar O&M portfolio has grown to more than 550 MW of plants under supervision across Europe, Asia and the Americas. The portfolio is comprised of both plants completed by third parties and those built by Martifer Solar.
The recent addition of Martifer Solar's Italian contracts solidifies its position as the third largest vertically-integrated O&M player in Europe, as noted by Greentech Media Research.
"As we have done here in Italy, as well as other European markets such as Spain, France and the U.K., we expect to double the capacity of our O&M portfolio in the near future," Rodrigues added.
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