Bord Gáis Energy, an Ireland-based energy supplier and services provider, announced the acquisition of Swyft Energy, a solar photovoltaic installer in Ireland. The financial details of the transaction, which are subject to approval by the Competition and Consumer Protection Commission, remained undisclosed.
This acquisition will allow Bord Gáis Energy to target 10,000 installations over the next 5 years to address the growing demand for solar energy in residential, commercial, and agricultural sectors.
Dave Kirwan, Managing Director of Bord Gáis Energy, said, “Bord Gáis Energy is fundamentally repurposing its business to seek to become a leading green energy business, working towards energizing a greener, fairer future. We make energy, store it, move it, and sell it. In doing that, we are committed to achieving net zero by 2045 and helping our customers reach net zero by 2050. We’re working with 730,000 residential, commercial, and agricultural customers to help them become more energy efficient and move to renewable energy solutions.
Adrian Casey, Co-Founder of Company Swyft Energy, added, “Joining Bord Gáis Energy allows us to scale our operations and bring innovative solar solutions to more homes and businesses, driving Ireland’s transition to a renewable future. We are excited to combine our technology platform and experienced team with Bord Gáis Energy’s brand and large customer base to deploy energy products at scale over the coming years. The demand for Solar PV is accelerating, with many people keen to make the switch, especially when they realize potential savings.”
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, 62 solar M&A transactions were executed in 9M 2024 compared to 75 in 9M 2023.
In November, Cube Green Energy, a renewable platform of global infrastructure investment manager I Squared Capital, agreed to acquire control of SUNfarming, a German Solar developer and independent power producer.
