Bord Gáis plans €300m gas-fired power plant

Bord Gáis today has signed a heads of agreement for a 25-acre portion of the ConocoPhillips site at Whitegate, Co Cork, with the intention of developing a €300m 440 MW gas-fired power plant.

“The site is located near an existing industrial development, with access to standby fuel storage facilities, site services, sea water cooling and electrical grid connection,” said Dave Kirwan, head of strategic Investments at Bord Gáis.

The proposed power plant is scheduled to be fully operational by 2009.

The proposed development is subject to planning approvals, a connection agreement with Eirgrid and a liaison programme with all interested parties.

Bord Gáis said today the development would provide it with a long-term source of power 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 commented: "Since Bord Gáis entered the electricity market in 2001, it has successfully built a market share of 8%, and is currently supplying the electricity needs of over 2,500 large enterprises and SMEs."

Bord Gáis sources electricity from a range of power producers, including a number of wind developers.

"The company’s ability to significantly grow its electricity supply business is dependent on securing its own source of power," Bord Gáis said today.