Petrofac buys renewables sector specialist

14th Jun 2010 07:27

Petrofac, the international oil and gas facilities service provider, has bought TNEI Services, a specialist consultancy supporting the energy, power and renewables sectors.Petrofac is paying £7.5m for TNEI, of which 30% is contingent upon senior management's continued participation in the business.TNEI has some 50 staff in Newcastle and Manchester and provides services in the areas of power transmission and distribution, planning and environmental consent and energy management.Petrofac's group chief executive, Ayman Asfari, said: "Petrofac intends to build a position in the renewable energy sector and our existing technical consulting, offshore engineering, project management and operational skills provide a strong base from which to enter this rapidly developing market. The addition of TNEI's technical capabilities enhances Petrofac's ability to serve the wind renewables sector.”