The owner of Northern Ireland’s largest energy firm Power NI has been acquired by French investment firm Ardian in a deal worth more than £2 billion.
Ardian has agreed to buy Energia Group from infrastructure investment firm I Squared Capital in a deal that values the firm at more than €2.5 billion.
I Squared Capital had acquired Energia in 2016 for €1 billion.
The companies said the deal will have no impact on Energia’s customers, employees, partners or suppliers,
Energia operates across the entire energy value chain in the Republic and Northern Ireland, serving 900,000 homes and businesses.
It is one of the longest established providers of renewable electricity in Ireland, supplying around 17% of the island’s total electricity requirements and 20% of its total wind power.
According to the north’s utility regulator, Power NI has 553,000 domestic and industrial customers in Northern Ireland, where it commands 59.6% of the total electricity market.
Energia’s chief executive Ian Thom said: “Energia’s focus remains on transforming Ireland’s energy system by deploying renewables and other low carbon solutions at scale, while continuing to deliver secure and affordable energy to our domestic and commercial customers.
“We are grateful for I Squared’s support over the past nine years and the strong, future-ready platform we have built together.”
He added: “Ireland is at a pivotal point, with rapid electrification, growing demand from new technologies, and global investment in digital infrastructure all accelerating.
