MORE than 50 jobs will be saved after Teesside power station builder NEL Power was bought out of administration by a competitor. The Stokesley firm has been acquired by London- based Carron Energy after NEL Power and its subsidiary NEL Recruitment went into administration last month. The new owners have said the deal will safeguard 54 jobs in Stokesley and see the business renamed Carron Engineering and Construction (CEC). It will focus on work in combined heat and power (CHP), engineering, construction and renewables. NEL Power Group chief executive Phil Stokes said: “The new company, CEC, will still be based in Stokesley and we are pleased the future for the staff is now secure. Carron Energy has committed resources and expertise to develop the company to provide services it needs to grow.” Carron Energy chief executive Alex Lambie said: “This significant acquisition will allow us to grow confidently in exciting new directions. With NEL’s technical expertise, we’ll be able to develop our renewables capability and focus on biomass, CHP and other power projects.” The Teesside firm ran into financial trouble in June when an £8m contract to build a pet food factory in Somerset was cancelled after it was unable to provide adequate bankers guarantees to the client. | 
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