Centrica's Consortium Preferred Bidder for Bord Gáis Energy

A Centrica-led consortium has been named preferred buyer in the race for Bord Gáis assets, a few hours after the UK’s company controlling British Gas announced it sold the Race Ban wind farm project to Denmark’s DONG Energy.

The Centrica-led consortium’s bid valued Bord Gáis Energy at €1.12bn.

The sale would help Irish government to achieve the 3 billion euro asset sale target agreed with the EU-IMF. Dublin expected to cash in up to €1.4 billion. 

Two weeks ago, the Government deferred the sale of the retail unit of Ireland’s state-owned Bord Gáis, as the three final bids submitted by Blackstone Group, Virdian Group and Centrica were not at “an acceptable value.”