The energy regulator is to hold a competitive tender process for the building of two electricity interconnectors across the Irish Sea.
Communications, Marine & Natural Resources Minister Dermot Ahern said today that the Government would press ahead with the plan for the connectors, which between them will be able to carry 1,000 megawatts of electricity, which is just over 20% of the present national grid.
Minister Ahern said a report from the Commission for Energy Regulation had favoured a public private partnership approach for the projects.
Construction of the underground cables will involve private money, underpinned by some guaranteed returns. The minister said he would ask the CER to minimise the risk and the cost to Irish consumers. It is estimated that the cost of the projects would be €400m.
Earlier this year, Mr Ahern said he hoped the interconnectors would be 'constructed, managed and owned by the private sector'.
