Flogas Acquires Green Energy Supplier
Paul Kenny, general manager, Flogas Energy with Liam Faulkner, CEO, Naturgy Ireland, which Flogas has acquired from its Spanish parent, Naturgy Energy Group SA.
Naturgy Ireland is a market leading supplier of renewable electricity, natural gas, biogas and energy services to large energy users in Ireland, Northern Ireland and the UK. Its customers include food and beverage producers, major retailers, manufacturing and transport businesses. The acquisition by Flogas is subject to approval by the CCPC (Competition and Consumer Protection Commission) in Ireland. Once approved, the agreement is expected to complete by the end of the year.
The announcement is a significant move for Flogas, which acquired Just Energy’s Irish operation in 2019 and Budget Energy in Northern Ireland in 2020. Currently, Flogas sells electricity, natural gas and LPG across the island of Ireland and supplies over 175,000 residential and primarily SME business customers. The acquisition of Naturgy Ireland will expand the company’s reach into the large Irish electricity and gas markets in Ireland, where it doesn’t compete at present, and represents an important step in its strategy to expand its energy solutions.