Brendan Coyne, The Energyst
Summary
India’s Ministry of Power has acquired UK combined heat and power firm Edina for £55m and plans to invest millions in the UK energy services market over the next two years.
The deal is structured via UK subsidiary, EnergyPro Assets Limited (EPAL), which is a joint venture between Energy Efficiency Services Limited (EESL), a publicly-owned energy services company overseen by India’s Ministry of Power and EnergyPro Ltd, a UK-based advisory company headed by Steven Fawkes that consults on energy efficiency projects.
Edina has around a quarter of UK gas engine market share and turns over around £100m. EESL plans to use its acquisition both to grow the CHP market in India via ‘as-a-service’ models, and simultaneously tap into the UK energy services market.
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