The acquisition is expected to increase Clarke Energy’s geographical reach to a total of 27 countries
Image: Clarke Energy seeks to expand its geographical reach with new acquisitions. Photo: courtesy of Adam Radosavljevic from Pixabay.
UK-based Clarke Energy has signed an agreement to acquire Romanian energy service company TEB Energy and its Greek subsidiary Genelco Power Systems, for an undisclosed sum.
Under the terms of the deal, Clarke Energy will acquire 100% stake in TEB and its subsidiary Genelco, the authorised distributors of INNIO Jenbacher gas engines in Romania and Greece, respectively.
Clarke Energy said in a statement: “This acquisition includes the addition of 38 new employees and an installed gas engine fleet in these countries of more than 200 MW in the field. The businesses are located in their nations’ capitals, Bucharest and Athens, respectively.”
Acquisition benefits to Clarke Energy
The acquisition is expected to expand Clarke Energy’s technical and service support to owners of Jenbacher gas engines in Greece and Romania. It will also increase the firm’s geographical reach to a total of 27 countries.
Clarke Energy president Jamie Clarke said there is a significant installed base of Jenbacher gas engines in both Romania and Greece.
“TEB and Genelco are a great fit to join the Clarke Energy group of companies, and we share many synergies.
“We aim to support and grow these businesses using our expertise in the gas engine sector and continue to deliver industry-leading levels of equipment performance.”
Clarke Energy expects its strengths in the fields of application engineering, project management and aftersales service support to boost TEB and Genelco’s offerings to customers in Romania and Greece.
Last year, Clarke Energy was selected by Symbion Power as a preferred bidder for two biogas power plants to be located on the shores of Lake Kivu in Rwanda.
Under the contract, Clarke Energy will deliver nearly 25 of GE’s J620 3MW Jenbacher gas engines for the power plants.
Independent power producer Symbion Power had won the right to deliver two projects in Rwanda on Lake Kivu.
Under a 25-year concession, the Kivu 56 project is expected to export 56 MW of power into the Rwandan grid.