Pinergy, the energy transition company, has reported revenues of €267m for the year ended 31 December 2024. This represents revenue growth of 25% on the previous year. Pinergy attributes the increase in revenue primarily to the growth in its commercial client base, both in terms of numbers, energy usage and scale.
2024 was also a year of continued investment by the business across a number of key areas. This included a focus on building out its systems transformation project to enhance customer experience and billing capabilities, the recruitment and development of key talent resources across all areas of the business and strategic investments to strengthen brand presence. Reflecting these strategic investments, normalised EBITDA amounted to €11.2m down from €13.3m in 2023. Pinergy is reporting an operating profit of €8m for 2024, compared to a profit of €10.6m in 2023.
Pinergy continues to see increasing demand from commercial customers for its range of clean energy transition services across green electricity supply, data insights and energy solutions including solar energy. This growth reflects a broader market shift among businesses towards sustainable energy offerings such as corporate power purchase agreements. These increasingly popular agreements allow companies to source and buy renewable energy from generation assets based in Ireland that feed into the national grid.
A cornerstone of Pinergy’s strategic evolution in 2024 was the landmark investment by Sojitz, a Tokyo-based multinational group. This partnership with Sojitz is now supporting Pinergy in its next phase of growth, providing essential capital and international expertise to deliver on their shared vision and ambition to become a total energy solutions provider, enabling the business to both generate and supply its own renewable energy.
Commenting on its latest reported set of financial results, Enda Gunnell, CEO of Pinergy said: “Today’s results reflect our continued evolution and commitment to the Irish energy market. Our strategic partnership with Sojitz and our focus on customer experience and innovative energy services, positions us strongly to support our customers in the energy transition and to deliver long-term value.”
He added: “2025 has been challenging to date with tougher trading conditions and market demands. However, we remain resilient and positive and our ongoing investments in the business are foundational to Pinergy’s long term objectives and future growth trajectory.”
Earlier this month, following a strategic review of its residential solar business, Pinergy announced a co-operation agreement with Mitros, a specialist in solar PV and energy storage solutions. This agreement is designed to enable Pinergy to sharpen its focus and resources on its commercial solar business, while empowering Mitros to accelerate the growth of residential solar installations across Ireland.
Since launching in 2013, Pinergy has grown organically and by acquiring energy related businesses. Today, it supplies green electricity and provides technology driven energy solutions, including solar PV installations, energy measurement, and EV charging infrastructure.
The business directly employs 115 people with operations in both Dublin & Enniscorthy. Today, Pinergy supplies energy to 10,000 commercial customers and 28,000 domestic customers across Ireland
