Greengen buys energy procurement firm Wheldrake

LANCASHIRE energy services group Greengen has bought a small Oldham-based electricity and gas procurement company.

Wheldrake Energy and its market intelligence brand Energy Trader Daily will become part of Greengen subsidiary Local Green Energy and move up to Blackpool.

Greengen Group is owned by entrepreneur Simon Rigby, and specialises in developing, managing and operating renewable energy.

Lancashire-based Rigby, founded the FTSE 250-listed utility services group Spice – now called the EnServe Group – before running Greengen.

Asif Rizvi, managing director of Local Green Energy, said: “This acquisition is a major step to becoming the industry leader in market intelligence, energy purchasing and management.

“Our group, Greengen, has invested millions in renewable generation assets and now we are uniquely placed to offer clients exceptional energy risk management services.”

Wheldrake managing director, Omar Rahim and four colleagues, will also join LGE, swelling its ranks to 30. Mr Rahim has become director of trading and operations.

Financial terms of the deal were not disclosed.