Image: IberdrolaGlobal Solar O&M Market Reaches 348 GW as Consolidation Accelerates
The global solar PV operations and maintenance (O&M) market has reached a significant milestone. According to Wood Mackenzie’s “Global Solar PV O&M Service Provider Dynamics 2026” report, assessed capacity hit 348 GW at the end of 2025, after adding 61 GW during the year.
But the headline number tells only part of the story. Beneath the growth lies a powerful trend: accelerating consolidation. The 15 largest providers now manage 200 GW — or 57% of the global market — up from a smaller share in previous years. The market is rapidly concentrating around a core group of scaled providers, with the top 15 adding a combined 41 GW to their portfolios in 2025 alone.
At Sunlink, we see this consolidation as a defining shift for the solar industry. As portfolios grow larger and more geographically diverse, the demand for professional, scalable O&M services is becoming as critical as the demand for the hardware itself.
The Global Leaders: NovaSource Remains on Top
NovaSource Power Services retained its position as the world’s largest solar PV O&M provider, with 38.4 GW under management at the end of 2025.
The top five was rounded out by RES Energy Global Services, SOLV Energy, Solarig Energy Services, and Recurrent Energy. Several of these providers are pursuing cross-regional expansion strategies as scale becomes an increasingly important competitive factor.
New Entrants and Fast Movers
The rankings saw notable shifts in 2025:
BayWa r.e. Services and Origis Energy Services joined the global top 15, adding 2.6 GW and 1.8 GW respectively to their managed portfolios.
Engie more than doubled its O&M portfolio, rising six places to rank eighth globally. Growth was driven primarily by the Americas, where its portfolio expanded by 172%.
Sterling & Wilson recorded 53% year-on-year growth, taking its managed capacity to 13.5 GW and placing it sixth globally. The company also leads the Asia-Pacific market (excluding China), where it manages 12.2 GW.
Among smaller providers, megaom — the independent O&M unit of FRV — recorded the strongest percentage growth. Its portfolio expanded by 243% to 3.8 GW, taking the company into the global top 30 for the first time.
Regional Divergence: Mature Markets vs. Emerging Opportunities
The regional picture was markedly uneven, reflecting different stages of market development.
North America: Mature and Competitive
Wood Mackenzie described North America as a mature and highly competitive market. Pricing pressure pushed down the cost of comprehensive “full-wrap” O&M contracts, which fell 18% year-on-year. Independent service providers continued to strengthen their dominance in the region.
Middle East and Africa: A Frontier Market
By contrast, O&M volumes in the Middle East and Africa nearly doubled in 2025. Historically lower market penetration, combined with rapid growth in PV installations, is attracting new service providers to the regions. Wood Mackenzie described this as an “underpenetrated opportunity”.
Europe and Asia-Pacific
Europe, the Middle East and Africa (EMEA) — along with Asia-Pacific excluding China (APeC) — continue to be tracked closely by the report, with providers like Sterling & Wilson dominating the APeC market.
What This Means for Asset Owners and Developers
The consolidation of the O&M market carries important implications for solar asset owners, developers, and investors:
For asset owners: A consolidated market means fewer, larger providers with greater resources and geographic reach. This can translate into more standardized service quality, better data analytics, and stronger financial stability. However, it also means less choice and potentially less flexibility. Asset owners should evaluate O&M providers not just on cost, but on their ability to scale with growing portfolios and deliver consistent performance across regions.
For developers: As the market consolidates, securing a reputable O&M partner early in the project lifecycle is becoming increasingly important. The provider you choose will influence the long-term performance, bankability, and resale value of your asset.
For investors: The O&M market’s consolidation signals a maturing industry. Larger, more professional service providers reduce operational risk — but they also command higher fees. Investors should factor O&M quality and cost into their financial models, particularly for assets in emerging markets like the Middle East and Africa, where service availability is still developing.
Sunlink’s Perspective: Quality O&M as a Competitive Advantage
At Sunlink, we view O&M not as an afterthought, but as a core component of a successful solar project. The Wood Mackenzie report underscores what we have long believed: as the global solar fleet grows, the difference between a well-maintained asset and a neglected one becomes increasingly visible in the bottom line.
For our customers, we emphasise three key principles:
Scale matters. Larger O&M providers can invest in better technology, data analytics, and training. When choosing an O&M partner, look for proven scale and a track record of performance across diverse geographies.
Regional expertise is critical. The dynamics in North America — where costs are falling due to competition — are fundamentally different from those in the Middle East and Africa, where demand is surging and the market is still forming. A one-size-fits-all approach to O&M does not work.
Data-driven O&M is the future. The best providers are moving beyond reactive maintenance to predictive, data-driven strategies that maximise uptime and minimise costs. As the market consolidates, this capability will become a key differentiator.
Conclusion
The global solar O&M market has reached 348 GW, and consolidation is accelerating. The top 15 providers now control 57% of the market, with NovaSource leading at 38.4 GW. Regional dynamics are diverging sharply: North America is mature and price-competitive, while the Middle East and Africa are emerging as frontier markets with near-doubling volumes.
For asset owners, developers, and investors, the message is clear: O&M is no longer a commodity service — it is a strategic function that directly impacts asset performance, revenue, and long-term value.
At Sunlink, we are committed to helping our customers navigate this evolving landscape. Whether you are developing a new project or managing an existing portfolio, the quality of your O&M partner will be a defining factor in your success.
Ready to optimise your solar asset performance? Contact Sunlink to discuss our integrated solar solutions and O&M advisory services.