The ESB has agreed to sell assets including two power stations to Spanish power group Endesa.
An ESB statement said talks on issues affecting the workers involved wold now start between ESB, unions and Endesa. It said this process was expected to completed by the end of the year.
Endesa said it had paid €450m for the assets, which include the Tarbert and Great Island stations.
The process is part of an ESB agreement with the energy regulator to reduce its dominant position in the marketplace.
This is the first time in ESB's history that it has sold operating power stations in Ireland.
Endesa does not have a supply licence, but has a generating licence to sell into the electricity grid. But the broad understanding is that the company is entering the Irish market to supply as well as generate electricity.
If it were to choose not to supply to homes and businesses, it would sell electricty into the grid to be sold on by other power companies.
