'The Irish Times' Business Person of the Month: Denis O’Sullivan
Gas Networks Ireland secured €100m in long-term funding
Gas Networks Ireland managing director Denis O’Sullivan has been chosen as The Irish Times Business Person of the Month for December, an award run in association with KPMG.
The company had a busy December, securing €100 million in long-term funding from the European Investment Bank to upgrade its infrastructure, while turning on the taps for a new pipeline linking Ireland and Scotland. These are key strategic investments for the State.
In early December, the State-owned utility announced the EIB funding, which will be used to underpin a €205 million investment in its network. Gas Networks Ireland operates twin pipelines to Scotland, which help to supply gas to the 688,000 homes and businesses its serves here.
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Natural gas began flowing in December through a new €100 million pipeline between Cluden and Brighouse Bay in Scotland. This completed the twinning of interconnectors between Ireland and Scotland, connecting this island to Britain and ultimately the European market. The EU contributed €33.7 million to the overall cost as Brussels deemed the pipe to be a “project of common interest”, aimed at completing an integrated European energy market.
A native of Cork, O’Sullivan graduated as a mechanical engineer and went to work for Grainger Sawmills near Bandon. He later held positions with SWS Energy and Bord Gáis Energy and Brookfield, before joining Gas Networks Ireland in 2014 and becoming its managing director last year.