Bord Gáis Energy Acquires Leading Irish Solar PV Installer Swyft Energy
The title of this post, is the same as that of this news item from Centrica.
This is the sub-heading.
Bord Gáis Energy today announced the acquisition of Swyft Energy, a leading solar PV provider in Ireland for an undisclosed sum.
Note.
- Bord Gáis Energy is a subsidiary of Centrica.
- Swyft Energy has this web site.
These three paragraphs give more details of the acquisition.
Bord Gáis Energy already operates in the solar PV market: directly to residential customers, and through its partnership with Irish Farmer’s Association delivering solar PV to farms across Ireland, helping farmers transition to green energy. The acquisition of Swyft Energy now brings deeper solar PV capability to residential as well as business and farming customers of Bord Gáis Energy, as the company transitions to a green energy business.
Swyft Energy, a technology-led solar PV and boiler installation company, brings over six years of experience in delivering customer-focused solutions using a digital-first platform. This acquisition enhances Bord Gáis Energy’s highly skilled workforce and strengthens its customer proposition.
With a target of 10,000 installations over the next 5 years, this will allow Bord Gáis Energy to compete better for the growing demand for solar energy in residential, commercial and agricultural sectors. Customers can save an average of 50-70% on their electricity bills with the installation of rooftop solar panels.
The deal certainly looks a good fit between two ambitious companies, who are operating in similar areas of the Irish market.
I have my thoughts and observations.
Are Bord Gáis Energy And Swyft Energy Stronger Together?
Do both companies feel, that by working together, they will be stronger from a financial point of view?
It wouldn’t be unusual for this to be a reason behind a deal like this.
Centrica Are Making Lots Of Deals At The Present Time
Centrica are also continuing, the tendency to expand, that they’ve shown in recent weeks.
These are some of the deals I have noted.
- Aberdeen’s Exceed Secures Centrica Rough Contract
- HiiROC Partners With Siemens To Boost Clean Hydrogen Production
- Centrica Strikes 200MW Lithuanian Green Power Deal
- Centrica And Coterra Energy Announce Natural Gas Sale And Purchase Agreements
- Centrica And European Energy Sign Agreement On Måde Green Hydrogen Facility
- Recurrent Energy’s Middle Road Project Sold To Centrica
- Team GB And ParalympicsGB Athletes Find New Career Pathway At Centrica
- UK Infrastructure Bank, Centrica & Partners Invest £300M in Highview Power Clean Energy Storage Programme To Boost UK’s Energy Security
Centrica certainly have been busy expanding.
Energy Storage In The Island Of Ireland
It is generally accepted, that if you have a lot of renewable energy, then you need a lot of energy storage, to bridge the gaps in wind and solar.
In the Wikipedia entry for Energy In Ireland, there is a section called Energy Storage.
It seems to me, that Ireland could be short on energy storage, so is it likely that the enlarged Bord Gáis Energy will look for possibilities for energy storage.
Recently, Centrica formed a business relationship with Highview Power, who are developing environmentally-friendly liquid-air batteries. These smaller and more affordable batteries might be suitable for the island of Ireland.
Conclusion
There’s more to this deal, than at first meets the eye.
Centrica And Coterra Energy Announce Natural Gas Sale And Purchase Agreements
The title of this post, is the same as that of this news item from Centrica.
These three bullet points, act as sub-headings.
- Coterra will supply 100,000 MMbtu/d of natural gas for a period of 10 years, commencing in 2028.
- Volume supplied sufficient to heat 400,000 homes per year.
- Agreement expands Centrica’s growing LNG business.
These three paragraphs say more about the deal and add more on its context.
Centrica LNG and Coterra today announced the execution of two natural gas sale and purchase agreements. Under the contracts, Coterra will supply 100,000 MMbtu/d of natural gas linked to European gas prices such as TTF and NBP, for a period of 10 years, commencing in 2028.
This major gas deal will reduce the market risk in Centrica’s LNG portfolio by purchasing US gas on the same price indices under which the LNG is subsequently sold, and help underpin customer energy supplies for a decade. The volume supplied is sufficient to heat 400,000 homes per year, further cementing Centrica’s global role supporting energy security.
The deal follows similar agreements over recent years, demonstrating Centrica Energy’s innovative partnership approach, one of the key pillars of its successful and growing LNG business.
It certainly looks like Centrica are doing their best for UK energy security.
It also looks to me, that it is a low risk deal.
It should also help to keep us all warm in the UK, until renewable electricity and hydrogen come fully on stream.
The Anonymous Widower 