AFRY to enhance expertise in renewables via acquisition of Carelin

Swedish energy and infrastructure consultancy AFRY (STO:AFRY) has reached an agreement to take over Carelin Oy, a Finnish firm that offers services to the wind power industry with a focus on production and life cycle management.

The investment will enhance AFRY’s offering in the renewables sector and enable full lifecycle services from project development to owner’s engineering as well as operations and maintenance services, the acquirer said in a statement published Friday.

Founded in 2017, Carelin offers project management, site supervision, technical inspections and construction preparation advisory services. It is also active in the solar power and energy storage markets. The company counts among its clients Neoen, OX2, Exilion, and Ilmatar and has worked on more than 3 GW of wind, 100 MW of solar, and 100 MW of battery energy storage projects, according to its website.

The business to be acquired, which employs about 40 people, booked SEK 60 million (USD 5.8m/EUR 5.35m) in net sales in 2023.

“With Carelin, we bring width and depth to AFRY’s services to the Finnish renewable sector, allowing us to offer full lifecycle services to clients in the renewable sector,” said Linda Palsson, head of Division Energy at AFRY.

(SEK 10 = USD 0.965/EUR 0.892)

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