Tullamore-based company Lumcloon Energy has lodged a formal application for permission to build an electricity generating plant on the site of the old ESB Ferbane power station in County Offaly.
The group says the proposed 325 megawatt gas-fired plant will supply energy to the national grid on a targeted basis as required.
Lumcloon applied last year to the Commission for Energy Regulation to be included in the next round of licences to provide power generation facilities. It is expecting an announcement on this later this year.
The group says up to 500 people will be employed in construction over two years, with about 50 full-time jobs when the plant is up and running. It hopes power from the site will be available from the first half of 2012.
