Bord Gáis completes acquisition of Cork's Swyft Energy 

Swyft Energy is a solar PV and boiler installation company

Swyft Energy founders Adrian Casey and Joe Freyne, with Dave Kirwan, managing director, Bord Gáis Energy, and Teresa Purtill, director of services and solutions, Bord Gáis Energy.

Bord Gáis Energy has announced it has completed the acquisition of solar panel provider and installer Swyft energy for an undisclosed sum, after approval was given by the competition authority.

Swyft Energy, headquartered in Cork, is a solar PV and boiler installation company and was founded in 2018. Over the past six years, the company has secured several million euros in funding from both private and institutional investors.

“This acquisition enhances Bord Gáis Energy’s highly skilled workforce and strengthens its customer proposition,” the company said.

“With a target of 10,000 installations over the next five years, this will allow Bord Gáis Energy to compete better for the growing demand for solar energy in residential, commercial and agricultural sectors.” 

Bord Gáis already operates in the solar PV market directly to residential customers, and through its partnership with the Irish Farmers’ Association, which delivers solar panels to farms across the country.

The company said the acquisition of Swyft Energy brings “deeper solar PV capability to residential as well as business and farming customers”.

Services and solutions director at Bord Gáis Energy Teresa Purtill said the acquisition of Swyft Energy would allow “us to build further on our solar power energy offering”.

Co-Founder of Swyft Energy Adrian Casey said the deal would allow the company to scale its operations, “bringing the benefits of solar to even more homes and businesses across Ireland. As demand for solar soars, our acquisition puts us in a strong position to meet it.”

“We’re excited to officially join forces with Bord Gáis Energy and realise the potential of our combined expertise… As demand for solar soars, our acquisition puts us in a strong position to meet it,” he added.

Bord Gáis Energy currently has 730,000 customers and is aiming to be net zero emissions by 2045. It has been part of the Centrica group since 2014.

The deal was first announced in November last year but had to be cleared by the Competition and Consumer Protection Commission (CCPC). The CCPC found it would not substantially lessen competition.