Irish utility Bord Gáis Energy has acquired solar energy supplier Swyft Energy in a bid to become a fully green energy supplier.
Bord Gáis Energy, owned by British gas parent company Centrica, declined to reveal the price it paid for Swyft Energy, a company that focuses on installing solar energy and boilers. While Bord Gáis Energy is already active in the solar PV market, supplying residential customers with solar energy and also working with the Irish Farmer’s Association to bring solar PV to farms across Ireland, the acquisition will enable Bord Gáis Energy to expand its reach within the solar energy market. .
Bord Gáis Energy has set a target of installing 10,000 solar PV systems across the residential, commercial and agricultural sectors over the next five years. Swyft Energy’s website states that it has completed more than 15,000 installations since its founding in 2017.
The Irish government offers several financing options for people looking to add a solar installation to their home. The Sustainable Energy Authority of Ireland (SEAI) offers grants of up to €2,100 (£1,750) towards the cost of installing solar at home; however, from January 2025 this will drop to £1,500. Finance Ireland offers loans between £3,335 and £20,845 in partnership with several green infrastructure installers, at an interest rate of 6.7%.
Dave Kirwan, managing director of Bord Gáis Energy, said: “Bord Gáis Energy expects that by 2030 all its electricity customers will be supplied with indigenous renewable energy. The role of solar energy in this transition is compelling, and the acquisition of Swyft Energy is another important part of the energy transition. With the combination of Bord Gáis Energy and Swyft Energy, we are confident we can expand our presence in this important green energy segment.”
Adrian Casey, co-founder of Swyft Energy, added: “By joining Bord Gáis Energy we can scale our operations and bring innovative solar energy solutions to more homes and businesses, driving Ireland’s transition to a sustainable future is stimulated. We are excited to combine our technology platform with the Bord Gáis Energy brand and large customer base to widely deploy energy products in the coming years.”
Ireland’s solar sector is on the rise, with data from grid operator EirGrid showing that grid-scale solar met 4.4% of Ireland’s electricity demand in June this year, marking a new record for the country. However, the actual volume of solar generation in Ireland is likely higher than this report as this only represents generation from grid-scale solar PV plants and not from home installations. According to the Irish Solar Energy Association, 94,000 Irish homes have solar panels installed, amounting to a capacity of 373 MW.
