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Oil & gas actor buys renewable energy consultancy TNEI

The international oil & gas facilities service provider Petrofac has purchased TNEI Services Ltd through the acquisition of its holding company New Energy Industries Ltd for £7.5 million.

TNEI is a specialist consultancy supporting the energy, power and renewable energy sectors.

Martin Barnes, Managing Director of TNEI, says: “As part of the Petrofac group, we see great potential both to provide broader services to TNEI’s customers and to help Petrofac build a strong, technically-competent service to the wind renewables sector; we are excited about this step and the new opportunities it will provide for our team.”

Petrofac’s group CEO Ayman Asfari, adds: “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.”

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