Power NI owner Energia sold to French investment firm Ardian

French investment firm Ardian is buying one of Ireland’s largest energy utilities, Energia Group.

They have agreed to buy the business from its current owners, US-based I Squared.

Energia is the owner of Power NI, the biggest supplier of electricity to households in Northern Ireland.

The companies said the deal will have no impact on Energia’s customers, employees, partners or suppliers.

Energia supplies around 17% of the island of Ireland’s total electricity requirements.

It also supplied gas and electricity to almost 900,000 homes and businesses across the island.

The company employs over 1,100 people with offices in Dublin, Belfast, Antrim and Omagh.

Ian Thom, CEO of Energia, 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.”

Senior Managing Director at Ardian, Juan Angoitia said they were “proud” to be investing in Energia,

“We have been impressed by Energia’s strong growth and resilience in the context of a volatile energy market, and look forward to sharing our expertise to further develop its renewable generation portfolio, flexible capacity and enhance the efficiency of the whole company,” he said,

The sale is expected to be completed in the first quarter of 2026, subject to regulatory approvals.