AURORA Energy Services – run by serial Aberdeen entrepreneurs Doug Duguid and Michael Buchan – has successfully completed a deal that will expand its operations into South America.
The Scottish company has acquired the Latin American assets of Altitec Blade Services, including its operations in Santiago, Chile. The country aims to increase its wind energy capacity to 10 gigawatts by 2030, a significant increase from its current 3.5 gigawatts.
Tom Smith, the chief operating officer for Aurora, said: “South America’s wind energy sector is poised for substantial growth, and this acquisition allows us to establish a strong foothold in the region.
“Initially we will offer blade repair services, but will expand our services to include mechanical services, and construction [and] installation services.”
Currently, Aurora employs around 700 people worldwide and anticipates an annual revenue of £70 million. It is quickly establishing itself as a leading force in the renewable energy services industry.
Aurora’s strategy is to grow into a £100 million global provider of energy services over the next five years. This goal involves aligning with the energy sector’s shift away from fossil fuels, focusing on wind, solar, hydrogen, carbon capture and storage, pumped hydro, and waste-to-energy technologies.
This strategy is not new to Mr. Duguid and Mr. Buchan, who have a background in the oil and gas sector. They founded EnerMech, and in a 10 year period, grew that company from a two-person operation to complete 17 acquisitions, employ 4,000 people across 23 countries, and achieve revenues of £415 million and earnings of £50 million, before selling the business to Carlyle Group for over £400 million in December 2018.
