Bord Gais Gets OK for New Power Plant
Posted on: Wednesday, 25 October 2006, 12:00 CDT
Cork County Council has granted Irish utility Bord Gais planning permission, subject to conditions, for a 440MW gas-fired power plant at the ConocoPhillips site in Whitegate.
Bord Gais currently holds 9% of the electricity market by volume in the Republic of Ireland, having diversified into electricity supply in 2001.While the company currently sources electricity from a range of power producers, it believes that its ability to significantly grow its electricity supply business is dependent on securing its own source of power.
The proposed power plant will involve an investment of approximately E300 million and is scheduled to be fully operational by the end of 2009.
"This represents a significant milestone for Bord Gais in the development of a power generation plant at Whitegate," said Dave Kirwan, head of strategic investments at Bord Gais. "The investment in an independent power plant is an important element of our stated long-term dual fuel strategy and will be a significant factor in allowing the company to grow its position as a provider of electricity in the Irish market."
Source: Datamonitor
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