Spanish investment fund GED Capital has sold Romanian energy services company TEB Energy and its Greek subsidiary Genelco Power Systems to Clarke Energy, a UK-based multinational company specialized in the engineering, installation, and the maintenance of engine-based power plants.

TEB energy provides energy efficiency services, and ended the year 2018 with a turnover of more than RON 31 million (EUR 6.66 million) and a small loss of RON 0.3 mln (EUR 64,000).

Including its Greek subsidiary, TEB Energy employs 38 (30 in Romania and 8 in Greece) and operates a fleet of Jenbacher gas-powered engines with an installed capacity of 200 MW.

Clarke Energy, on the market since 1989, has over 1,200 employees and Jenbacher gas-powered engines with a production capacity of over 6.9 GW installed globally in 25 countries.

According to open sources quoted by Profit.ro, TEB Energy is still controlled by GED Capital (58.5%), Lebanese businessman Eid Michel (16.8%) and three other Romanian associates.

(Photo: Pexels.com)

editor@romania-insider.com