Gas Natural Fenosa closes the purchase of Irish gas and energy marketer Vayu Limited
Gas Natural Fenosa has closed the purchase of 100% of the Irish gas and electricity marketer, Vayu Limited.
Vayu, established in 2003, is an Irish gas and electricity marketer focused on commercial and industrial customers, which also purchases and sells renewable energy from small generators, and operates in Ireland and the United Kingdom.
The acquisition of Vayu is part of the company's new strategic plan which envisages growth in energy marketing in European markets. This transaction strengthens the current group’s strategic position and footprint in the European markets (France, Italy, Belgium, The Netherlands, Portugal, Germany and Luxemburg) and will enhance the development of LNG operations and trading.
Its market share of gas sales to large industrial and commercial customers in Ireland reached 15%, while its share in electricity marketing is around 6%.
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