Lloyd’s Register has acquired the business and principal assets of the Mumbai-based nuclear risk specialists, Reltech Consulting (Reltech), in a move designed to further strengthen its presence in the Indian energy sector.
The business and assets of Reltech, which provides safety-management services to a multinational civil nuclear client base, have been transferred to the newly formed LR Scandpower Risk Consultancy Pvt. Ltd.
Scandpower AS, which provides independent technical risk services to the energy and transport industries, was purchased by Lloyd’s Register in 2009.
“This is an important acquisition for Scandpower in that it greatly strengthens our presence in India, one of the world’s fastest growing markets for nuclear power,” said Bjorn Inge Bakken, chief executive of the Scandpower Group. “We have a long history of activity in India, where all existing nuclear power plants and regulators already use our RiskSpectrum software. Building a stronger local presence gives us the additional manpower and technical resources we need to serve the expanding Indian market and our global nuclear clients.”
India has very ambitious plans for its nuclear power sector; its national energy plan calls for the electricity-generating capacity of the nuclear sector to increase its market-share to 25% from the current 2.9% in the next two decades.
LR Scandpower Risk Consultancy, set up in May, will be led by Devi Kompella, Reltech’s former managing director, who has more than 20 years experience in the industry.
“The Indian civil nuclear industry is poised to take a big leap forward and many opportunities are opening up. While Reltech was already established as a quality service provider, as a relatively small company, we faced the regular limitations to our growth. So I felt it imperative to join an established organisation with a global presence and resources,” said Ms Kompella.