UK energy group Centrica has snapped up an Irish gas and electricity supply from the country’s state-owned provider as part of a £920million deal.
Centrica, along with Brookfield Renewable Energy Partners and iCON Infrastructure will take over the Bord Gáis Energy group from state-run Bord Gáis Éireann.
The deal will see Centria acquire BGE’s supply business in Ireland, along with the Whitegate gas power station in County Cork.
iCON taking over the company’s firms supply and gas assets in Northern Ireland, while Brookfield will acquire the renewable energy assets of the Irish group.
Centrica chief executive Sam Laidlaw said the deal would give the company a chance to establish a presence in the Irish market.
“This is a unique opportunity for Centrica to take a first step in a neighbouring market with strong links to the UK, building on Bord Gáis Energy’s existing capabilities and delivering value for the group,” he said.
“Centrica is committed to providing secure supplies of energy and delivering the best service at competitive prices. We continue to pioneer new technology, putting households and businesses in control of their energy use, to reduce their bills and their carbon emissions.”
The new business will be incorporated into Centrica’s downstream activities, providing gas and electricity to around 650,000 homes and 30,000 businesses.
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