Latest news with #BordGáisEnergy
Irish Examiner
6 days ago
- Business
- Irish Examiner
Bord Gáis Energy announces profit of €39m for first half of 2025
Bord Gáis Energy has announced a profit of €39m for the first half of 2025, with its customer base growing by 3%. The results compare with a profit of €50m for the equivalent period in 2024. Nevertheless the company, which is owned by Centrica, said the results reflected a good performance across its retail, trading, and asset portfolios. The results came as parent company Centica said on Thursday its adjusted operating profit had halved in the first half of 2025 to €663m. Bord Gais has been focusing on developing two hydrogen-capable 100MW gas peaking plants in Athlone and Dublin and the development of a 334MW Open Cycle Gas Turbine project in Galway. Commissioning of the Athlone and Dublin plants is expected to commence later this year. "Our parent company Centrica's capital investment is enabling us to power Ireland's economic growth and green transition. This will play an important role in delivering a green, secure and competitive energy sector for Ireland," said BGE managing director Dave Kirwan. In January, BGE completed the acquisition of Swyft Energy, enhancing its solar PV capabilities. Earlier this month, BGE signed multiple power purchase agreements with renewable developers, which will see the company buy enough energy to power around 250,000 homes. The new solar agreements are with Highfield Energy, BNRG, ILOS Energy and Power Capital Renewable Energy while Bord Gáis Energy has signed onshore wind offtake agreements with Encavis and Tullynamoyle 5. Meanwhile Centrica said on Thursday its adjusted operating profit halved in the first half of this year, due to mild weather, falling wholesale energy prices and weaker returns from gas storage. The company said its operating profit for the six months ended June 30 fell to £500m (€663m) from just over double that in the same period last year. Centrica is also the owner of British Gas.
Irish Times
6 days ago
- Business
- Irish Times
Bord Gáis profit dips to €39m in first half of 2025
Bord Gáis Energy made a profit of €39 million in the first half of 2025 as customers numbers grew and commodity prices eased. That compared to a profit of €50 million in the first half of 2024. Adjusted earnings before interest, tax, depreciation and amortisation were £40 million (€46.1 million), down 22 per cent on the previous year's £51 million. Customer numbers grew 3 per cent in the first six months of the year, the company said, reaching 531,000. READ MORE The Centrica-owned company is currently undergoing a €1 billion investment programme in strategic infrastructure, bolstering supply security and integrating renewable energy assets, including the development of two hydrogen-capable 100MW gas peaking plants in Athlone and Dublin, and a 334MW open cycle gas turbine project in Galway. It also completed the acquisition of solar PV company Swyft Energy in January, and earlier this month announced multiple power purchase agreements with renewable developers that added more than 629MW of capacity. 'We remain focused on creating value through our integrated model – supporting customers, investing in energy security, and driving decarbonisation,' said Dave Kirwan, managing director of Bord Gáis Energy. 'Our parent company Centrica's capital investment is enabling us to power Ireland's economic growth and green transition. This will play an important role in delivering a green, secure and competitive energy sector for Ireland.' Parent group Centrica reported adjusted operating profit of £549 million, saying the company had put in a 'resilient performance' in a challenging market.
Irish Times
16-07-2025
- Business
- Irish Times
Bord Gáis Energy to become top solar supplier
Bord Gáis Energy is poised to become the Republic's biggest buyer of solar-powered electricity following a series of deals announced on Wednesday. The company has agreed to buy enough electricity from wind and solar farms to supply around 250,000 homes. The agreements include deals to purchase electricity from solar farms that will have a total capacity of more than 600 mega watts, making Bord Gáis Energy the largest buyer of this type of green electricity in the Republic. The solar electricity developers include Highfield Energy, BNRG, ILOS Energy and Power Capital Renewable Energy, all of which have projects up and running or in construction and set to begin supplying electricity between now and 2028. READ MORE Bord Gáis Energy will buy the electricity that the various plants produce, then sell it to the wholesale market along with power produced from its own assets, including its gas-fired power station in Whitegate Co Cork. John Dalton, director of trading with Bord Gáis Energy, said the company was working with its farming and business customers to aid them in switching 'to a lower carbon future'. 'We've partnered with trusted renewable energy developers and the newly signed agreements will amount to enough clean electricity annually to power approximately 250,000 residential homes,' he added.
Irish Examiner
16-07-2025
- Business
- Irish Examiner
Bord Gáis announces green energy purchases as €1bn investment plans continue
Bord Gáis Energy has signed energy purchase deals with a number of investors which will buy enough energy to power around 250,000 homes. The company is increasing its solar and wind energy portfolio after agreeing power purchase agreements (PPAs) with renewable developers - part of the company's €1bn infrastructure investment over the next five years. The projects announced on Wednesday total over 629MW of installed renewable capacity spanning solar and onshore wind technologies. The new solar agreements are with Highfield Energy, BNRG, ILOS Energy and Power Capital Renewable Energy while Bord Gáis Energy has signed onshore wind offtake agreements with Encavis and Tullynamoyle 5. "This is a pivotal time for Bord Gáis Energy as we repurpose to become a leading green energy business. We have an ambition to be a net zero company by 2040 and we're working with our 730,000 residential, commercial and agricultural customers to help them transition affordably to a lower carbon future and reach net zero by 2050," said Bord Gáis director of trading John Dalton. "We've partnered with trusted renewable energy developers and the newly signed agreements will amount to almost 1TWh of clean electricity annually, enough to power approximately 250,000 residential homes. Many projects are already live or expected to energise in 2026 with some longer-term agreements active in 2028." Once operational, Bord Gáis Energy will be the largest off taker of solar powered energy from the Renewable Electricity Support Scheme (RESS), the Government scheme which provides firms with guarantees to purchase electricity generated for 15 years. Bord Gáis Energy currently operates a 445MW combined cycle gas turbine in Whitegate, Co Cork which can power up to 400,000 homes. The company is developing two 100MW 'peaker' plants in Dublin and Athlone with a third peaker planned for Galway to facilitate the growth of renewable energy and ensure security of supply. Peaker plants usually supply power during times of high demand. Bord Gáis Energy's solar and wind portfolio will move from 380.70MW at the start of this year to 979.3MW in October 2028. In February 2025, Bord Gáis announced it would invest €1bn between 2024 and 2029 in Ireland's energy infrastructure and to support the green transition.
Irish Independent
09-06-2025
- Business
- Irish Independent
Wicklow and Wexford farmers invited to see solar energy in action at on-farm event
Part of a series of 'Solar In Action' events showcasing rooftop solar installations by IFA and Bord Gáis Energy that have delivered savings on working farms nationwide, the Wexford leg of the roadshow will take place on the farm of Paul Kehoe in Glasscarrig, Ballygarrett, on July 14 at 8 pm. Farmers attending will hear first-hand from those who have already installed rooftop solar, learning about their experience, costs, benefits, and practical insights into how it's working on their farms. Speakers from IFA and Bord Gáis Energy will also present details on the application process, TAMS, and the technology used by IFA and Bord Gáis Energy. The event series also highlights the support available to farmers through the TAMS 3 Solar Capital Investment Scheme, which offers grant aid of up to 60pc for eligible rooftop solar installations. 'Farmers are stepping up to the energy challenge and 'Solar In Action' shows the real, practical steps farms can take to cut costs and carbon,' IFA president Francie Gorman said. 'These are working farms, already producing their clean energy with IFA-Bord Gáis Energy rooftop systems – and the TAMS grant makes it even more accessible'. 'Rooftop solar power solutions are helping farmers reduce energy costs – saving up to €200,000 across the lifetime of a typical installation – while supporting the long-term sustainability of their farms,' Bord Gáis Energy's John Cussen added. 'The 'Solar In Action' roadshow gives farmers the chance to see the technology in action, hear from others already seeing the benefits, and speak with experts about how solar could work for their own farm. 'With strong demand across the agriculture sector, solar is the smart, future-focused choice for farms of all types and sizes.' The free event is open to all farmers. Register via
