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BayWa acquires PowerHub to expand digital technology services

BayWa r.e. renewable energy GmbH has acquired PowerHub in a bid to extend the scope of its digital technology services in the renewable energy sector. Financial terms of the deal were not disclosed.

"This is an important and strategic acquisition that recognizes the transformational opportunities digitalization represents for the rapidly evolving asset management services sector," said Matthias Taft, member of the board responsible for BayWa AG's energy business, in a Sept. 3 statement.

PowerHub will continue to operate largely independently.

BayWa r.e. manages over 7 GW of renewable assets around the world.