An Bord Gáis has been granted permission for a €300 million gas-fired power plant at the ConocoPhillips site at Whitegate in east Cork.
Bord Gáis came to an agreement with ConocoPhillips last April to develop the 440mw gas-fired power plant on a 25-acre site on the oil company's property at Whitegate. Cork County Council yesterday granted planning permission for the project.
According to a Bord Gáis spokeswoman, the company hopes to begin construction in autumn next year with the facility becoming operational by the end of 2009.
About 300 people will be employed in the construction phase, with the power plant ultimately employing about 35 staff.
The head of strategic investments at An Bord Gáis, Dave Kirwan, said the decision by Cork County Council to grant planning permission was a major development for the company, which diversified into electricity supply in 2001 and currently holds 9 per cent of the market by volume.
"The investment in an independent power plant is an important element of our stated long-term dual-fuel strategy and will be a significant factor in allowing the company to grow its position as a provider of electricity in the Irish market," Mr Kirwan said.
He added that the ConocoPhillips site was a strategic and desirable location for the proposed power plant given that it was located next to an existing industrial development.
It also had access to substantial standby fuel storage facilities, sea-water cooling and electrical grid connection.
Mr Kirwan said An Bord Gáis supplied electricity to more than 2,500 companies and the utility was committed to increasing its supplies both in the business market and in the domestic market.
An Bord Gáis sources its electricity from a range of power producers and has supply contracts with existing independent power producers and some wind developers.
The company's ability to significantly develop its supply business was dependent on securing its own source of power, Mr Kirwan said.
"This proposal is consistent with the stated long-term dual-fuel strategy of the company and will enable it to develop its business," he added.
