German automotive technologies company Robert Bosch GmbH said Wednesday it plans to acquire Astrim Energia S.r.l., an Italy-based energy service provider.

Astrim Energia, one of the ten largest energy providers in Italy , generated sales of around 31 million euro ($42 million) in 2011. The heat and power generation technology company serves the public sector as well as hotels, hospitals, and shopping malls.

The acquisition is subject to approval by antitrust authorities.

Bosch, one of the world's top auto parts suppliers, began investing in the renewable energy sector over the past years, especially solar, to reduce dependence on the car market. But the company had losses and write-downs of around EUR1 billion in its solar operations in 2012, after price erosion and over capacity led to factory closures.
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