300 jobs are to be created during the upgrade and redevelopment of Ireland's electricity network.
Eirgrid said the jobs will be mainly created through sub-contracting work on the network.
Around 30 of the jobs will be directly created by Eirgrid, while 200 people will be employed building power lines and sub-stations. There will be 50 jobs in the professional service sector.
It is projected that by 2020, 40% of Ireland’s electricity will be generated by wind.
Much of the infrastructure to be built will be used to get electricity generated on the west coast to the east of the country.
Almost 3,500km of transmission lines will be installed during the upgrade project.
The length of the transmission network will also be increased during the project.
In its annual report, Eirgrid said its operating profit for the year to September 2009 was €9.4m, compared to €8.6m for the nine months to September 2008.
Revenue for the year to September 2009 was €410m, compared to €282m for the nine months to September 2008.
Minister for Communications, Energy and Natural Resources Eamon Ryan welcomed the announcement.
Minister Ryan said: 'Ultimately, the grid must be built. While we have met our 15% target for renewables and reached second or third place in Europe in terms of integration of wind in our system, we will not make progress unless we build our grid to tap into the potential resources available to us.
'We need a transmission grid, not only to enable us to transmit wind power to different counties but also to create jobs in these counties.'