SPIE Acquires Worley Power Services to Strengthen Its Presence in Australia
The French multi-technical services group SPIE announced on December 16 the signing of an agreement to acquire Worley Power Services, a subsidiary of the Worley group. This transaction is expected to allow SPIE Global Services Energy to expand its operations in the Australian energy transition market.
Expanding Expertise and Market Presence
According to the press release, the acquisition of Worley Power Services will enable SPIE Global Services Energy to broaden its historic expertise in technical maintenance to include power production assets. The group states that this move will position it as a player in the energy transition in Australia, from coal and gas to renewable sources. SPIE has been present in Australia since 2012 through its subsidiary Global Services Energy. The company reports that Worley Power Services has established itself as a market leader in asset management throughout their lifecycle, boasting over 20 years of operational experience. Its activities include the operation and maintenance of wind farms, power plants, and gas pipelines across Australia. The group notes that the company has strategically shifted towards low-carbon power production assets over the past five years, in line with the accelerated closure of coal plants in the country.
Operational Scope and Financial Performance
Worley Power Services currently operates and maintains 27 power production assets with a total capacity of over 2,700 MW, as well as more than 1,100 km of gas pipelines, according to the press release. For the fiscal year ending June 30, 2025, the company reported a revenue of approximately 70 million euros and employs 320 people, primarily highly skilled technicians and engineers, the group specifies. According to SPIE, Worley Power Services has become the go-to provider for operation and maintenance for government entities, power producers, and infrastructure investors. Once the acquisition is completed, the company will be renamed SPIE Power Services, the release indicates.
Strategic Implications of the Acquisition
Christophe Bernhart, CEO of SPIE Global Services Energy, stated in the press release that the acquisition will complement the group's current activities in Australia and will strengthen its presence in the operation, maintenance, and asset integrity in the green energy sector. He describes this move as a major step to consolidate the group's long-term presence in Australia, which he views as a strategic market. For reference, SPIE reported a consolidated revenue of 9.9 billion euros and a consolidated EBITA of 712 million euros in 2024, according to the press release. The group employs 55,000 people across Europe and internationally. SPIE Global Services Energy, present in about twenty countries, operates across the entire value chain of energy production infrastructure and employs 5,000 staff.
