Babcock & Wilcox to buy VODA in Denmark, set up service platform in Europe

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September 28 (Renewables Now) - Babcock & Wilcox Enterprises Inc (NYSE:BW) is buying Denmark-based waste- and biomass-to-energy aftermarket parts and service provider VODA A/S and forming a platform for its renewable service business in Europe.

The US renewable, environmental and thermal energy technologies provider, also known as B&W, announced the acquisition today and said it aims to wrap it up by October 31, subject to customary closing conditions. It will unite the VODA and B&W Volund aftermarket services businesses under a new unit, B&W Renewable Service, to be led by VODA CEO Christopher Nysted Sorensen.

“This strategic acquisition brings together B&W’s and VODA’s strengths and creates a solid foundation to further expand our service business in Europe’s fast-growing renewable energy market,” commented B&W CEO Kenneth Young.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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