GES ACQUIRES AN HYDROPOWER ENGINEERING COMPANY
GES enlarge its capacities as engineering and construction company for the renewable energy, by adding hydropower to the wind and solar activity
GES acquired Hidroproyectos, an engineering company focus in the design, construction, and exploitation of hydropower plants. Through this acquisition, GES aims to potential its renewable focus portfolio, adding hydropower to the wind and solar business divisions. The company was taken over effectively from the 19th of June.
The acquired company is specialized in the design and construction of hydropower plants, including all aspects involved in the planning and execution of an hydraulic power generator project from the early stage, including project feasibility and due diligence, through the design phase, carrying out the basic and detailed engineering and the execution including procurement and project management and commissioning, as well as the operation and maintenance of the plants.
Both companies have a complementary portfolio. The acquisition should consolidate GES offer in the main markets where the company is active: Spain, Mexico, Chile, Argentina, and EMEA. Sergio Perez Zurita, GES Business Development Director sais, “the take over of Hidroproyectos fits in GES business strategy, adding a new renewable business line to the company’s portfolio. This is a big opportunity for both organizations, as Hidroproyectos and GES teams are complementary in many aspects, which will be of great value to take advantage of the synergies to keep on growing together”.