"The company says the transaction will have no impact on customers, employees or suppliers and that it remains committed to delivering its strategy in Ireland. In recently announced results, Energia reported that operating profits slid by 44pc to €32.8m in the first quarter of its 2026 financial year. It still paid a €40m dividend to I Squared Capital at the end of April."
"During that first quarter, the group reported an operating loss of €6.1m before exceptional items and "certain remeasurements", which compared with a €53.8m operating profit in the same quarter last year."
"Ian Thom, CEO of Energia Group, 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.""
Energia serves roughly 250,000 residential electricity and gas customers in the Republic and 58,100 non-residential customers, with Power NI supplying almost 517,000 domestic customers in Northern Ireland. No financial details of the sale by I-Squared Capital were released, though the asking price was speculated to be over €2bn. The company says the transaction will not affect customers, employees or suppliers and remains committed to its Irish strategy. Operating profits fell 44% to €32.8m in the first quarter of the 2026 financial year, and the group recorded an operating loss of €6.1m before exceptional items. Energia owns Huntstown power station, has 358MW of operational onshore wind with 50MW under construction, and is building a data centre beside Huntstown for Microsoft. Reported bidders included an Octopus/CPP joint venture and KKR.
Read at Irish Independent
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