Spanish company to purchase 20% of ESB generation assets

A Spanish company is to become Ireland's largest utility provider, after agreeing to buy 20% of ESB's generation assets.

The deal is worth around €450m. Endesa has promised to develop a programme to improve the efficiency of current plants and to build cleaner technologies.

It’s hoped the plan, due for completion by mid-2012, will cut carbon dioxide emissions from those sites by more than half.