Coillte and the ESB are set to establish a new joint venture company, FuturEnergy Ireland, which is aiming to deliver a €1.5 billion renewable energy project.

The project has the potential to generate up to one gigawatt of onshore wind energy by 2030.

The Cabinet heard today that the company's ambition is to deliver the renewable energy, mainly from onshore wind, by developing 200 turbines.

There will be no exchequer funding involved.

Details of the project were brought to the meeting by Minister for Agriculture Charlie McConalogue along with Minister of State Pippa Hackett.

The Cabinet also formally established the Commission on Housing.

The commission will consider long-term housing policy and it is expected to examine the wording of a possible referendum on the right to housing.