Bord Gáis Energy to invest €250 million in two new power plants

Bord Gáis Energy, and its parent company Centrica, is set to develop two new power plants at a cost of €250 million.

Clearance works have already started at the two sites in Athlone, Co Roscommon and Profile Park in Co Dublin.

Both plants are expected to be completed by the end of 2024 and full construction and design tender competitions are in progress.

The plants will also be hydrogen enabled, to be ready for running on renewable gas when it is available.

The plants can react to the peaks and troughs of electricity generation from renewable generators and the relative speed with which they can be switched on and off will be a key benefit.

The production of green hydrogen is one of the “key priorities” in the government’s National Energy Security Framework, which was developed to address the challenges of ensuring the long-term security of affordable energy supply.

The two new plants are set to provide a combined 200 megawatts of gas fired power generation, which will provide enough power for 100,000 Irish homes all year round.

The company currently has one power station in operation here which is located in Whitegate, Cork.

Speaking about the investment today, Dave Kirwan, Managing Director of Bord Gáis Energy said: “We recognise the current difficulties facing consumers all across Ireland in relation to energy costs.  Our focus is on protecting our customers as much as we can right now, while also using our financial strength to make investments that will protect them in the future.”

“In 2022 we will make no profit in residential energy supply and have instead sought to protect customers through absorbing some of the worst increases in energy prices, supporting the most vulnerable and investing in our customer service teams and training. We have put in place an energy support fund and committed 10% of operating profit from other parts of our business to further support customers who need it most right now.”

“Taking a longer-term view, we are committing over €250m to the construction of the two flexible gas fired generation plants in Athlone and Dublin. In addition to our existing Whitegate power station, the construction of these two new plants will help the penetration of renewables on the system while also supporting Ireland’s journey to net zero,” Mr Kirwan said.