Hitachi Zosen Inova completed the acquisition of Babcock & Wilcox Renewable Service from Babcock & Wilcox Enterprises for $87m.

Hitachi Zosen Inova, a global green tech company, completed the acquisition of Babcock & Wilcox Renewable Service, a renewable energy firm, from Babcock & Wilcox Enterprises, an American energy technology and service provider, for $87m. “This transaction aligns with our previously announced intention to strategically sell certain non-core businesses and assets, and proceeds will be used to reduce our debt, increase our liquidity and support working capital,” Kenneth Young, Babcock & Wilcox Enterprises Chairman and CEO.