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Circet Signs Agreement to Acquire Paralos Energy
A landmark deal for Circet Energy, poised to deepen its high-voltage grid expertise across Greece and Southeast Europe.
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Circet has signed an agreement to acquire Paralos Energy, a Greek specialist in high-voltage substations and grid interconnection, together with its subsidiaries Parcon and Gecko. Founded in 2015, the company employs nearly 200 people and operates in Greece, Romania, Bulgaria and Germany. The deal is subject to regulatory approval.
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.
Launched in 2026 and led by Julio De Almeida, Circet Energy is Circet Group's dedicated organization and brand for energy infrastructure services. It brings together all of the Circet Group's energy-related activities under a single platform, leveraging Circet's industrial capabilities, operational excellence and international footprint.
Circet Energy provides a comprehensive range of services across the energy value chain, including the construction and maintenance of electricity transmission and distribution networks, EPC services for renewable energy projects, electromobility infrastructure such as railway electrification systems and electric vehicle charging networks, as well as data center and energy-intensive installations.
Operating across all the geographies in which the Circet Group is present, Circet Energy benefits from strong operational synergies with the Group's telecommunications activities. The business combines expertise in network infrastructure deployment, project management, engineering, field operations and maintenance services to support customers in delivering critical infrastructure projects.
Since its launch, Circet Energy has actively expanded its capabilities through strategic acquisitions, including Kinetic IT in the data center sector, several specialist contractors in electricity distribution networks in France, solar energy installer KBE, and most recently Paralos Energy. The platform will continue to broaden its service portfolio, technical expertise and geographic footprint through further organic growth and targeted acquisitions.
Circet Energy's ambition is to become a leading energy infrastructure platform supporting the electrification of economies and accelerating the energy transition across Europe and beyond.
The Circet Group brings together more than 17,000 people across 12 countries and reported pro forma revenue of €4.912 billion in 2025.
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