Viridian to build new power plant

Viridian Group PLC has announced the construction of a second power plant at its Huntstown site, north of Dublin. The €250m project will be completed during 2007.

Patrick Haren, Viridian Group Chief Executive, said today: “The second power plant at Huntstown will ensure Ireland has the electricity it needs to meet future demand.

“Investment in the second phase at Huntstown is consistent with our strategy of developing an integrated energy business in competitive markets across Ireland and will ensure that Viridian remains well placed to take advantage of the opportunities offered by the developing Irish electricity market.”

The new station, which will cost approximately €250m including interest during construction, will be financed from Viridian Group’s debt resources. Full planning permission has been obtained and Viridian recently signed a connection agreement with ESB, the Irish grid operator. It is expected that construction will start in spring 2005 and complete in mid 2007.

Harry McCracken, group managing director, Viridian Power and Energy said: “We have entered into a turnkey contract with Mitsubishi for the construction of a high efficiency 400 MW Combined Cycle Gas Turbine on the Huntstown site, adjacent to our existing 343 MW station.

“Our decision has been made against the background of electricity demand projections in the Republic of Ireland which indicate a continuing need for further generation capacity, together with a renewed commitment from regulators in both the Republic of Ireland and Northern Ireland to an all-island electricity market."