The Government has approved a €1 billion capital investment programme for the ESB.
Speaking at the UCD Engineering Graduates Association’s Annual Spring Lecture in the UCD Clinton Auditorium this evening (April 3), Minister for Energy, Communications and Human Resources Pat Rabbitte said most of the expenditure would be spent on transmission and distribution electricity network expenditure.
He added that Ireland needed capital investment, especially in energy infrastructure, in order to encourage the 'green shoots' of economic recovery. "As we see continued improvement in the macro economy expected through 2014 into the coming years, it's important to keep a strong focus on capital investment, which will support jobs and inward investment in Ireland," said Rabbitte. "The ESB's investment plan is a fine example of infrastructure investment which is additional to Exchequer spending."