The global solar project operations and maintenance (O&M) market reached 348 GW of assessed capacity at the end of 2025, up 61 GW year-over-year (YoY), according to a report by Wood Mackenzie.

Market consolidation continued during the year, with the 15 largest O&M service providers collectively managing 200 GW, accounting for 57% of the global market.

Wood Mackenzie said market conditions differed significantly across regions. Competition in the mature North American market continued to drive O&M costs lower, while the Middle East and Africa witnessed rapid growth and attracted new service providers.

Full-wrap O&M contract costs in North America fell 18% YoY, while O&M volumes in the Middle East and Africa nearly doubled during 2025.

Market Consolidation

According to the report, the top 15 global O&M providers added a combined 41 GW to their portfolios during 2025, taking their total managed capacity to 200 GW.

NovaSource Power Services remained the world’s largest solar O&M provider, with 38.4 GW under management at the end of the year.

RES Energy Global Services, SOLV Energy, Solarig Energy Services, and Recurrent Energy retained their positions among the five largest providers.

BayWa r.e. Services and Origis Energy Services entered the global top 15 after adding 2.6 GW and 1.8 GW, respectively.

Vendor Growth

Engie and Sterling & Wilson recorded significant portfolio growth during 2025.

Engie more than doubled its O&M fleet and moved up six positions to rank eighth globally. Its growth was primarily driven by a 172% expansion of its portfolio in the Americas.

Sterling & Wilson’s O&M portfolio grew 53% YoY to 13.5 GW, improving its ranking to sixth globally. The company led the Asia Pacific excluding the Chinese market with 12.2 GW of capacity under management.

Among the second-tier service providers, megaom, Fotowatio Renewable Ventures’ standalone O&M entity, registered the highest growth rate. Its global portfolio increased 243% to 3.8 GW, allowing the company to enter the top 30 O&M providers for the first time.

The report said the global O&M market is increasingly consolidating around large-scale service providers. However, the maturity and competitive dynamics can vary substantially across regions.

Inox Green Energy Services, Mitarsh Energy, Jakson Green, Inspire Clean Energy, and Sterling & Wilson emerged as the top solar project O&M service providers in India for 2025, according to Mercom’s India Solar Market Leaderboard 2026 Report.

The global energy transition continued to accelerate in 2025, with renewable energy accounting for 49% of total installed power capacity worldwide, according to a recent report by the International Renewable Energy Agency. Solar energy remained the primary driver of this expansion, contributing 510 GW, or nearly three-quarters of all renewable additions in 2025.