Energia Group
| File:Viridian Group.png | |
| Company type | Private |
|---|---|
| Industry | Energy |
| Founded | 1998 |
| Headquarters | Belfast, Northern Ireland |
| Revenue | £977 million (2006) |
| £149 million | |
| £93.5 million | |
| Owner | Arcapita |
Number of employees | 1,503 (2006) |
| Subsidiaries | Northern Ireland Electricity plc NIE Energy Energia |
| Website | www.viridiangroup.co.uk |
Viridian Group plc is a Northern Ireland-based energy business with interests in both Northern Ireland and the Republic of Ireland. Viridian organises its business in three main groups: Northern Ireland Electricity, NIE Energy, and Viridian Power & Energy.
Businesses
Viridian's strategy is strongly focused on Irish energy markets. Its businesses are organised in two main groups: NNIE Energy, and Viridian Power & Energy.[1]
NIE Energy
NIE Energy supplies nearly 800,000 homes and businesses in Northern Ireland with electricity.[2]
NIE Energy Power Procurement Business manages the group's Power Purchase Agreements.
Both NIE Energy and the Power Procurement business "were separated from NIE on 1 November 2007 in accordance with the requirements of the 2003 EU Electricity Directive which required the independence of the distribution system operation function."[3]
Virdian Power & Energy
Viridian Power & Energy generates electricity through Huntstown power plant and Eco Wind Power, while Energia provides gas and electricity to commercial customers.
History
Viridian was formed in 1998 as a holding company for Northern Ireland Electricity plc, the purpose of the reorganisation was to "step up the move into unregulated markets and for expansion overseas."[4] NIE was a public utility which was privatised in 1993. Formerly a vertically integrated monopoly, NIE's power stations were demerged and sold prior to privatisation.
On 6 October 2006 Viridian's board agreed the acquisition of the group by ElectricInvest, a company owned by the international investment firm Arcapita. The acquisition, which valued Viridian at £1.62 billion, was completed on 8 December 2006.[2]
See also
- Energy policy of the United Kingdom
- Energy use and conservation in the United Kingdom
- Green electricity in the United Kingdom
- Electricity sector in Ireland
References
- ^ "About us: Business structure". www.viridiangroup.co.uk. Viridian Group. Retrieved 28 May 2010.
- ^ a b "ESB sizes up North's power networks". Sunday Times (Irish ed.). 2010-04-25.
- ^ http://www.viridiangroup.co.uk/default.aspx?CATID=219
- ^ Buckley, Christine (1997-11-19). "NIE investors to share surprise £67m windfall". The Times.