Circet Group signs agreement to acquire Paralos Energy
30 July 2026
Circet Group signs agreement to acquire Paralos Energy and strengthens its energy infrastructure capabilities
The transaction marks a major milestone in the development of Circet Energy and expands the Group’s expertise in high-voltage substations and grid interconnections.
Circet Group has signed an agreement to acquire Paralos Energy, together with its subsidiaries Parcon and Gecko, a leading EPC and O&M contractor serving the renewable energy and power infrastructure sectors in Greece and Southeast Europe. The transaction remains subject to customary regulatory approvals and closing conditions.
Founded in 2015, Paralos Energy specializes in the design, engineering, construction, commissioning and maintenance of energy infrastructure. The company is particularly recognized for its expertise in medium-, high- and ultra-high-voltage substations and grid interconnection projects, including installations operating at voltage levels of up to 400 kV. It employs nearly 200 people and serves a diversified customer base of renewable energy producers, developers and transmission and distribution system operators. While holding a leading position in Greece, the company also operates in Romania, Bulgaria and Germany.
The acquisition strengthens Circet’s position in one of the most critical segments of the energy infrastructure value chain. As investment in electricity networks accelerates across Europe to support the energy transition, high-voltage substations and grid interconnections are becoming increasingly important to connect new renewable energy generation capacity to the grid.
George Theofilopoulos, Co-founder and Managing Director of Paralos Energy, commented:
“Joining Circet Group 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 pursue larger projects while maintaining the technical excellence that defines our business. We look forward to continuing this journey as part of 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, commented:
“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. We look forward to welcoming the Paralos teams to Circet and supporting their next stage of growth.”
