The Minister for Communications, Energy & Natural Resources, Eamon Ryan, TD, has announced that he will be introducing new legislation to allow for EirGrid plc to construct, own, operate and maintain an East/West Electricity Interconnector.
This Bill is priority legislation for the Minister and will be placed before the Oireachtas early in the New Year. The legislation will also include proposals to allow EirGrid - as the independent transmission system operator - to significantly increase its statutory borrowing limit to fund the project.
Inspecting the marine survey from the MV Meridian high-tech vessel over the Irish Sea, Minister Ryan said that this legislation highlights Government commitment to the East/West interconnector project and will ensure its completion by 2012, at the latest. This week EirGrid is to launch the bidding process for the design and construction of the interconnector.
Minister Ryan said - "When complete, this interconnector will have a capacity of 500 megawatts - the equivalent of power to 350,000 homes. It will assist in our security of supply and provide greater competition in the Irish electricity market. It will integrate Ireland's electricity system into the wider European market and offer opportunities for export of wind-generated electricity."
The Minister added - "Renewable electricity is the power of the future. We need this interconnector to allow companies to invest in wind power - secure in the knowledge that they will have easy access to the wider UK and European markets.
"This is yet another step in modernising our electricity system and encouraging renewable energy in Ireland. We are entering a new energy age and the interconnector is a necessary step in this process of major change" - concluded Minister Ryan.
EirGrid - overseen by the Commission foe Energy Regulation (CER) - has already achieved a number of important milestones in the project. Woodland in County Meath has been selected as the connection point for the interconnector on the Irish transmission system. In recent weeks, EirGrid has obtained a formal connection offer from the UK National Grid located at Deeside in Wales and has commenced work on a marine survey to determine the most suitable route for the undersea cable.
EirGrid plans to conclude the work by late 2011 - with 2012 targeted for completion of commissioning, testing and the start of commercial operations, with electricity flowing across the Irish Sea.
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