A consortium of three firms led by British energy company Centrica has agreed to acquire the natural gas and electricity supply business and other assets from Irish state-owned Bord Gais Eireann. The unit is the largest supplier of gas and electricity in Ireland and the transaction is valued at €1.1bn ($1.5bn).

According to the terms of the deal, Centrica will acquire Bord Gais Energy unit as well as the 445-megawatt Whitegate gas-fired power station in County Cork, Ireland. Investment firm iCON Infrastructure will acquire Bord Gais Eireann’s energy supply and regulated gas distribution assets and Brookfield Renewable Energy Partners will acquire the firm’s renewable generation assets.