Balfour Beatty builds up to big savings
8 April 2011 | Lindsay Clark
Balfour Beatty has acquired Power Efficiency, an energy procurement and carbon strategy consultancy, for around £18 million.
Balfour Beatty WorkPlace, a facilities management and outsourcing division of the construction group, said it aims to integrate Power Efficiency to help reduce the energy spend of its customers and implement carbon reduction targets.
Power Efficiency provides energy procurement, invoice validation, compliance and carbon reduction advisory services. The combined firm would be able to maintain large complex portfolios, monitor consumption and deliver energy and carbon management services. It will employ around 100 technical specialists and account managers.
Balfour Beatty chief executive Ian Tyler, said: “Increasingly, providing our customers with advice and help to reduce their energy costs and carbon footprint is seen as an integral part of the service we offer them. This acquisition enables us to add additional skills and capabilities to our existing range of services and I am delighted that Power Efficiency’s management share our goal to build a leading energy services business.”
In March, Balfour Beatty said it would create £30 million annual gross savings during 2011, in part from procurement initiatives in the UK.