SSE plc has entered in to agreement with Endesa Generacion SA, to acquire Endesa Ireland Limited in an acquisition and investment package totalling €488 million.
The investment includes the 104MW Rhode gas oil flexible peaking power plant as well as a brownfield development site at Shannonbridge.
The development site at Shannonbridge features infrastructure that could support future construction of new thermal generation plant later in the decade, subject to planning permission being secured.
The acquisition was unveiled at a press conference attended by An Taoiseach Enda Kenny TD and Gregor Alexander, Finance Director of SSE and its Lead Director for Ireland.
Since its entry in to the Irish market in 2008, following the acquisition of Airtricity, SSE has created more than 100 new full time positions each year and with its continued business success, plans to recruit a further 100 over the coming year to support its expanding utility business.
An Taoiseach Enda Kenny said, “The investment announcement by SSE is a great vote of confidence in Ireland and our economy, and for the new jobs that will be created in the coming years. Secure energy supply is crucial for future investment and jobs and also presents other significant economic opportunities for Ireland, particularly in the export of renewable power.”
Gregor Alexander, Finance Director of SSE, said, “Shortly after the acquisition of Airtricity in 2008 the Taoiseach very kindly made the time to officiate at the launch of our renewable business in Castlebar. I thank him again for his continued support at this significant milestone for SSE’s business in Ireland and for his continued focus on the importance of competitive, secure and sustainable energy and its role in attracting investment to Ireland.”