Ardian’s €2.5bn Energia deal fuels Ireland’s AI-driven energy boom

French investment powerhouse Ardian has agreed to acquire Dublin-based Energia Group in a deal exceeding €2.5bn, marking one of the largest energy transactions in Ireland’s history. The move highlights how global investors are targeting utilities poised to benefit from surging energy demands tied to artificial intelligence growth.

Energia supplies electricity to more than 900,000 homes and businesses across Ireland and Northern Ireland. Its strong renewable portfolio—spanning 16 onshore wind farms—and its role in powering a 165MW data centre in Dublin position it at the centre of Ireland’s clean power and digital infrastructure ambitions.

The acquisition, from current owner I Squared Capital, reflects a broader rush among infrastructure funds to capture the energy potential behind AI’s expansion. Similar momentum is seen globally, with BlackRock’s Global Infrastructure Partners nearing a $38bn takeover of US utility AES.

Ardian, already a significant investor in assets such as Heathrow Airport and German utility EWE, said this marks its first Irish investment. The firm plans to back a multibillion-euro capital expenditure programme aimed at expanding renewables and modernising flexible generation.

For I Squared, the deal delivers a substantial return after nearly a decade of ownership, during which it focused on strengthening Energia’s balance sheet and renewable capacity.

Ireland’s energy market is fast emerging as a strategic nexus between sustainability and data infrastructure—and Ardian’s move is a clear bet on that future. 

Explore the full article on how this landmark deal reshapes Ireland’s energy and data landscape.