The East-West Interconnector that connects the power grids of the State and Britain was officially opened today.
The electricity link, built by EirGrid, goes from Co Meath, to north Wales, and will help to ensure Ireland always has enough electricity to meet its needs into the future. The connection can also be used to export any excess energy that is generated here to markets in Britain.
Taoiseach Enda Kenny and EU energy commissioner Guenther Oettinger were among those who attended the official opening at Batterstown, Co Meath, where the interconnector joins the Irish national grid.
Commenting on the project EirGrid chief executive Dermot Byrne said, “We put in place the necessary structures to deliver this major infrastructure on a tight timeline. It was a challenge and it was an achievement delivering the complex project on time and approximately €30 million under budget.
He said the infrastructure "allows us to access energy from Britain and from across the European continent which will result in more competition to the energy market and put downward pressure on prices”.
Minister for Energy Pat Rabbitte welcomed the on-schedule completion of the project. "Delivering such projects on budget and on time is essential so as to keep consumer electricity prices as low as possible," he said, adding: “This development shows the benefit of Ireland working in a European context."
Edward Davey MP, UK secretary of state for energy and climate change, described the 186km of undersea cable as an impressive feat of engineering and said it brings "multiple benefits" to the British and Irish economies.
The project involved the electrical cable being laid in a trench beneath the Irish Sea between North Beach, Rush, in north Co Dublin, and Barkby Beach in northern Wales. A further 80km of overground cable was
laid to link the connector – 46km of which is in Ireland – to converter stations on either side of the Irish Sea where the power is adapted to suit the relevant national energy grid.
The interconnector actually cost €570 million, down from a projected €600 million. EirGrid said this would be made up of a €110 million grant from the European Union, a €300 million loan from the European Investment Bank, some €60 million from EirGrid and a commercial loan from Barclays/BNP Paribas.
The 500-megawatt power cable will start its commercial operations on October 1st. The East-West Interconnector, which can carry enough power to supply some 350,000 homes, started a testing phase on August 7th.
Another cable, the Moyle Interconnector, already connects Ireland and Britain, from Islandmagee in Northern Ireland to Auchencrosh, Scotland, and has capacity of 500 megawatts.
Additional reporting: Bloomberg