THE PARENT FIRM of electricity supplier Airtricity is to invest almost half a billion euro in purchasing several power stations in Ireland.
The move is expected to create a significant number of jobs. Taoiseach Enda Kenny is due to make what a statement described as a “major” jobs announcement this afternoon.
The jobs will be associated with the construction of a new power plant in Wexford, as well as wind farm projects around the country.
SSE plc, the parent company of Airtricity and other Irish-based energy firms including SSE Renewables and SSE Generation, has agreed to buy out the power stations owned by Endesa Ireland.
The acquisition and investment is worth around €488million. It includes a 460MW gas turbine plant which is already under construction at Great Island, Co Wexford and smaller gas oil stations at Tawnaghmore, Co Mayo and Rhode, Co Offaly.
There is also a fuel oil station at Tarbert in Kerry. SSE said it has secured planning permission for a gas turbine plant at the same location.
“Today’s announcement is part of SSE’s long-term commitment to Ireland,” said Gregor Alexander, SSE’s lead director for Ireland.
The completion of this acquisition and that of Phoenix Supply announced in May will make SSE the third largest energy company across the island with 750,000 customers.
He said the move was a “vote of confidence in the Irish economy”.