THE ESB is to build a second power station in Spain at a cost of around €500 million.

THE ESB will require outside investment if the State-owned electricity company is to continue with expansion plans.

The ESB's international arm, ESBI, is to launch the first internationally-owned independent power plant in the Basque region of Spain today.

The ESB has signed an agreement with Osaka Gas that makes the Japanese company an equal partner in the development of a €500m power station in Spain.