I Squared planning to expand
I Squared, Viridian’s new owner may use the Irish company to buy similar businesses in England. I Squared partner Gautam Bhandari said yesterday that it intends to grow the company by expanding its 20 per cent share of the Irish market and through buying other businesses.
He also indicated that it could use Viridian as a platform to make acqusitions in Britain. “That is certainly not off the table,” Mr Bhandari said.
He explained that I Squared was keen to buy Viridian because it was one of the few independent , integrated energy businesses, in Europe. “Most are owned by bigger corporations,” he said.
Mr Bhandari added that his company does not intend to break up Viridian. It also intends to leave existing management, lead by chief executive, Ian Thom, in place.
Along with Energia and Power NI, Viridian also owns two gas-fired power plants in north Dublin and a number of wind farms.
