Business

Lisburn power firm Edina purchased in Anglo/Indian joint venture

Announcing the Anglo-India joint venture at the Indian High Commission are (from left) Dinesh Patnaik (deputy High Commissioner), Tony Fenton (Edina joint managing director), YK Sinha, UK High Commissioner of India, and Saurabh Kumar, managing director EESL

LISBURN energy solutions provide Edina has been acquired for an undisclosed sum in an Anglo/Indian joint venture.

The company, the UK's leading total solutions provider for CHP, gas and diesel power generation, has been purchased by EPAL, a joint venture between India's Energy Efficiency Services (EESL) and British-based EnergyPro Asset Management.

And the deal is expected to give the new owners a platform for growth in both the UK and overseas and promises more jobs and further investment.

Edina supplies, installs and maintains power generation systems, employing 200 people across its UK headquarters in Manchester and manufacturing base in Lisburn, and provides work for 400 contractors. It also has a small operation in Australia.

EESL is the world's largest public energy services company with market capitalisation of more than $30 billion.

EnergyPro Asset Management aims to accelerate investment into energy and resource efficiency, and its work includes acquiring assets and projects, incubating new ventures, providing consultancy services and building programmes to speed up investment into energy and resource efficiency.

Established in 1985, Edina is recognised as the UK market leader in gas engines, providing international coverage from its various sites, which will continue to operate as normal under the new joint-venture deal.

Edina joint managing director Tony Fenton said: “We're looking forward to this new chapter in our growth story and replicating our success in new markets while leveraging EESL's experience across the globe.

"The opportunities in a vibrant and dynamic economy like India's are particularly attractive.”

Enjoy reading the Irish News?

Subscribe from just £1 for the first month to get full access

Today's horoscope

Horoscope


See a different horoscope: