Centrica to buy Irish state-owned energy supplier Bord Gáis Energy
- 25 March 2014
- From the section Northern Ireland
The UK energy firm, Centrica and its partners are to buy the Irish state-owned energy provider Bord Gáis Energy.
The sale, estimated at 1.1 bn euros (£920m) is expected to be completed within the first half of this year.
Centrica will acquire the Irish firm's gas and electricity supply business and the Whitegate gas-fired power station in County Cork.
Centrica's partners in the deal are Brookfield Renewable Energy Partners and iCON Infrastructure Partners.
iCON Infrastructure Partners will acquire Bord Gáis Energy's energy supply firm in Northern Ireland - Firmus - and its regulated gas distribution assets north of the Irish border.
Firmus supplies about 40,000 customers in greater Belfast and a further 20,000 in areas outside the city, referred to as the 'ten towns. It also has an electricity supply business.
Brookfield Renewable Energy Partners will acquire Bord Gáis Energy's renewable energy assets when the sale goes through.
Centrica Chief Executive, Sam Laidlaw, said: "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."