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I Squared eyes $3bn sale of Irish utility Energia

RICHARD HEAP

February 29, 2024

Private equity group I Squared is seeking advisors to help it sell Irish utility Energia Group in a deal worth up to $3bn including debt.

Reuters has reported that I Squared plans to start a sale process for Energia later this year, subject to market conditions. The investor bought Energia in 2016 for €1bn and unsuccessfully tried to sell the company in 2018 and 2020.

Energia owns onshore wind farms totalling over 300MW in the Republic of Ireland and Northern Ireland, as well as other forms of energy production.

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