Power Factors, LLC, the North American leader in clean and renewable energy operations and asset management, has stated that it has completed the acquisition of Greenbyte AB, which is Europe's foremost renewable energy management platform that forms market leaders in global renewable energy software. The transactions and the deal were closed on April 14, 2021.
Combined, both the companies provide around 75GW of solar, wind, and energy storage assets globally. The energy market sees a transformational shift in recent times; the industry is demanding geographic reach and product vision to support the transition. Both Power Factors and Greenbyte will combine to achieve an unparalleled scale and breadth of service in global renewable software, taking their customers a step closer to delivering 100% renewable energy.
Both the companies will complement their respective market presence and mindset. This partnership will play a crucial part in driving the digital and energy transformations, enabling companies worldwide to tap into data across their entire business and surface deeper insights to make smarter decisions and drive intelligence among enterprises. Joining forces allows them to adapt to the changing needs of their customers. It means more reliable data, more innovation, and, ultimately, more renewable energy.