European Commission approves sale of Energia Group to Ardian for €2.5bn

Purchase from I Squared Capital announced last October

Trade

Ian Thom, Energia Group

The European Commission has approved the acquisition of Energia Group by French private investment firm Ardian in a deal worth an estimated €2.75 billion.

Ardian anounced the renewable energy provider’s purchase from US infrastructure investor I Squared Capital last October with the trasaction expected to be completed early this year.

The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited market positions resulting from the proposed transaction.

Speaking in October, Energia CEO 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.

“Ireland is at a pivotal point, with rapid electrification, growing demand from new technologies, and global investment in digital infrastructure all accelerating. Energia is ideally placed to meet these needs, and with Ardian’s long-term backing, we’re excited to continue scaling our business to help power this next phase of Ireland’s growth for our customers, partners and employees.”

Energia Group supplies approximately 17% of the island of Ireland’s total electricity requirements and 20% of the island’s total wind power meeting the energy needs of 800,000 homes and businesses with competitive electricity and gas services provided through its two retail brands Energia and Power NI.

“Energia is at the forefront of the convergence between energy utilities and digital infrastructure. The company’s pioneering approach to combining hyperscale data center development with new renewable energy generation, will unlock significant opportunities for growth in Ireland. We look forward to working with the management team on their ambitious plans to support the decarbonisation of the entire economy,” said William Briggs, managing director, Ardian.

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