Irish utility Bord Gáis Energy has acquired solar PV provider Swyft Energy in an effort to move towards becoming a fully green energy supplier.
Bord Gáis Energy, which is owned by British Gas parent company Centrica, declined to reveal the price it paid for Swyft Energy, a firm focusing on solar PV and boiler installation. While Bord Gáis Energy does already work 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 allows Bord Gáis Energy to expand its reach within the solar market.
Bord Gáis Energy has set a target of installing 10,000 solar PV systems over the next five years across the residential, commercial, and agricultural sectors. Swyft Energy’s website notes that it has completed over 15,000 installations since being founded in 2017.
The Irish government provides several finance options for people looking to add a solar installation to their home. The Sustainable Energy Authority of Ireland (SEAI) offers grants of up to €2100 (£1750) towards the cost of installing home solar; however, from January 2025, this is set to drop to £1500. Finance Ireland offers loans of between £3335 and £20845 in partnership with various green infrastructure installers, at an interest rate of 6.7%.
Dave Kirwan, managing director of Bord Gáis Energy, said: “By 2030, Bord Gáis Energy expects all of its electricity customers to be powered with indigenous renewable generation. The role of solar in this transition is compelling, and the acquisition of Swyft Energy is another key component in the energy transition. With Bord Gáis Energy and Swyft Energy combining we are confident of expanding our presence in this key green energy segment.”
Adrian Casey, co-founder of 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 with Bord Gáis Energy’s brand and large customer base to deploy energy products at scale over the coming years.”
The Irish 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 of this year, setting a new record for the nation. 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 power plants and not from home installations. According to the Irish Solar Energy Association, 94,000 Irish homes have solar panels installed, representing 373MW of capacity.
