Circet Signs Agreement to Acquire Paralos Energy

Circet has signed an agreement to acquire Paralos Energy and its subsidiaries, Parcon and Gecko, a leading EPC contractor serving the Greek renewable energy market. The deal marks a major milestone in the growth of Circet Energy, the Group's newly launched platform dedicated to energy infrastructure and services.

A Specialist in High-Voltage Power Infrastructure

Founded in 2015, Paralos Energy designs, builds, commissions and maintains energy infrastructure, with particular expertise in medium-, high- and ultra-high-voltage substations and grid interconnection projects, including installations operating at up to 400 kV.

Nearly 200 employees serve a diversified roster of leading renewable energy producers and developers, along with transmission and distribution system operators. The company holds a leading position in Greece and is also active in Romania, Bulgaria and Germany.

A Strategic Fit for Circet's Energy Ambitions

This planned acquisition will strengthen Circet's position in one of the most critical segments of the energy infrastructure value chain. As demand for clean power keeps climbing, Europe is investing heavily to expand and modernize its electricity networks, and high-voltage substations and grid interconnections sit at the heart of that effort, connecting new renewable capacity to the grid.

Paralos Energy has built its reputation on technical rigor, reliable execution and long-standing relationships with the region's leading energy players. Together, Circet Energy and Paralos Energy will be well positioned to support the accelerating pace of Europe's energy transition.

George Theofilopoulos, co-founder and Managing Director of Paralos Energy, said:

" Joining Circet opens exciting opportunities for our employees, customers and partners. Circet’s scale, international presence and long-term commitment to the energy sector will enable us to accelerate our development, enter new markets and deliver larger projects while maintaining the technical excellence that defines our business. We look forward to continuing this journey as part of the Circet Group and remain fully committed to leading the company going forward ".

Julio De Almeida, Deputy Managing Director of Circet Group and Head of Circet Energy, said:

" This transaction marks an important step in the development of Circet Energy and reflects our ambition to become a leading player in energy infrastructure. Paralos Energy brings highly specialized capabilities in high-voltage substations and grid interconnections, a rare expertise that is increasingly critical to supporting the energy transition. The company has established itself as a recognized specialist in its field, with a reputation for technical excellence and successful delivery of complex energy infrastructure projects. We look forward to welcoming the Paralos teams to Circet and supporting their next stage of growth ".

About the Transaction

Completionremains subject to customary regulatory approvals and closing conditions.