Power Factors Acquires Greenbyte
Power Factors has acquired renewable energy management platform provider Greenbyte.
The transaction closed on 14 April 2021 and the combined entity supports more than 75GW of wind, solar, and energy storage assets globally.
Power Factor CEO Gary Meyers said: “We are thrilled to come together with Greenbyte to form the global leader in renewables asset performance management.
“The energy market is undergoing a transformational shift to renewables and the industry is demanding a company with the scale, geographic reach, and product vision to support that transition.
“Over the years, we have greatly admired the Greenbyte team — especially their outstanding software quality and their ability to capture a significant share of the European wind market.
“Their success complements our own in the North American market, making it an easy decision to join forces in a shared mission of enabling the clean energy transition.”
Over time, the two platforms are expected to converge, bringing together the best practices of both platforms into a single unified toolset for the effective management and operation of large fleets of renewable energy assets.
Greenbyte CEO Jonas Corne added: “The combination of Greenbyte and Power Factors achieves an unparalleled scale and breadth of service in global renewable software, taking our customers a step closer to delivering 100% renewable energy.
“Data is helping to transform the energy industry, from automated workflows to the mission-critical insights needed to drive positive outcomes in the fight against climate change.
“Consolidation has been anticipated in the sector for some time and in Power Factors, we have found a partner that complements our market presence and our mindset.
“Joining forces allows us to better adapt to the changing needs of our customers. It means more trustworthy data, more innovation, and, ultimately, more renewable energy.”