Vinci Energies has signed an agreement to buy Romanian electrical infrastructure engineer EnergoBit, which specialises in electrical substations, overhead transmission and distribution lines, and network monitoring and automation.
Founded in 1990, EnergoBit achieved revenues of €100m last year with 825 staff.
Vinci Energies’s revenues in Romania last year were €150m, so bringing EnergoBit in house could up its takings in the country’s electrical sector by 66%.
The Romanian firm has a workshop for building transformers and medium-voltage switchgear so it can offer clients tailor-made solutions, Vinci noted.
Through its energy-infrastructure Omexom brand, Vinci has operated in Romania since 2007 and currently employs 1,500 people there.
Vinci, who didn’t disclose the price it agreed, said the purchase is timely as Romania gears up to modernise its electrical infrastructure for a transition to renewables.
Last year, the European Bank for Reconstruction and Development lent Romania €100m toward the country’s €200m drive to upgrade its electricity distribution networks.
Romania has committed to raising the share of renewables in its energy mix to 36% by 2030 by adding 11.9GW of new capacity.
The EnergoBit deal is subject to relevant approvals.
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