Aurora Energy Services - run by serial Aberdeen entrepreneurs Doug Duguid and Michael Buchan - has completed an acquisition which will take it into South America.
The Scottish company has acquired the Latin American assets of Altitec Blade Services, including its operations in Santiago. Chile has plans to reach 10 gigawatts of wind capacity by 2030, from 3.5 gigawatts today.
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.”
With a current global workforce of approximately 700 employees and a forecast annual revenue of £70million, Aurora is rapidly establishing itself as a major player in the renewable energy services sector.
Aurora’s business plan is to create a £100million turnover international energy services provider over the next five years, by mirroring and supporting the energy industry’s transition from oil and gas and by developing a strong presence in wind, solar, hydrogen, carbon capture and storage, pumped hydro and waste-to-energy sectors.
It's a path familiar to Mr Duguid and Mr Buchan, who previously set-up oil and gas services company EnerMech. Over a 10-year period the two-man start up completed 17 acquisitions, employed 4,000 staff in 23 countries, and grew revenues to £415million and earnings to £50million, exiting the business in a £400million+ sale to Carlyle Group in December 2018.