Global renewable energy developer, service provider and wholesaler BayWa r.e. has acquired Toronto-based software company PowerHub.
The new addition to the BayWa r.e. group offers a cloud-based asset intelligence software solution. The acquisition extends BayWa r.e.’s scope of digital technology services in the field of renewable energy operations and further expands its services business, the company says.
“This is an important and strategic acquisition that recognizes the transformational opportunities digitalization represents for the rapidly evolving asset management services sector,” comments Matthias Taft, BayWa AG’s member of the board responsible for the energy business.
PowerHub’s software provides asset intelligence to clients in 20 countries. Backed by BayWa r.e., PowerHub will continue its growth in global markets under existing management, team and brand as a largely independent business. BayWa r.e. manages over 7 GW of renewable assets around the world.
“This is an exciting time for PowerHub and for our customers,” says Etienne Lecompte, CEO of PowerHub. “With the additional investment and resources BayWa r.e. will provide, we will be able to significantly accelerate and enhance the development of our business and software platform to offer even greater benefits and functionality to our global customer base. PowerHub and BayWa r.e. share the same vision and recognize the huge potential and customer-derived benefits from greater digitalization within the renewable services sector.”