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 | |
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 three main groups: Northern Ireland Electricity, NIE Energy, and Viridian Power & Energy.[1]
Northern Ireland Electricity
Northern Ireland Electricity is the principal subsidiary of the Viridian Group, responsible for the construction and maintenance of the transmission and distribution systems in Northern Ireland. It is also responsible for the operation of the distribution network. NIE sold SONI, the operator of the transmission network to EirGrid in 2008 for £30 million.[2] On 4 May 2010 ESB confirmed that it wished to acquire Northern Ireland Electricity which The Irish Times stated had a value of €1.4 billion (c. £1.2 billion 2010).[3]
Powerteam Electrical Services (UK) Ltd. is a "sister company" of NIE which builds high voltage electrical infrastructure for utility and industrial customers throughout the British Isles.
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."[4]
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."[5] 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 c "ESB sizes up North's power networks". Sunday Times (Irish ed.). 2010-04-25.
- ^ O'Halloran, Barry (2010-05-05). "ESB in bid for NI transmission network". The Irish Times.
- ^ http://www.viridiangroup.co.uk/default.aspx?CATID=219
- ^ Buckley, Christine (1997-11-19). "NIE investors to share surprise £67m windfall". The Times.