Endesa prioritises Ireland, could bring alternative fuels
Spanish utilities giant Endesa has said it might change oil-powered stations in Ireland it has agreed to buy to other fuels.
The company, which has agreed a Euro 450m deal for ESV assets, has also labelled Ireland as “a priority market”.
Endesa, which generates 1,811 gigawatt hours from wind power facilities and has earmarked Euro 1.9bn to boost its renewable energy capacity, is completing a deal for four power plants ESB was forced to sell.
“We think it [Ireland] is a very attractive market, and we think it’s a good opportunity,” the executives said.
“It’s a very attractive market with high prices for structural reasons.”
They added that 4% annual growth in the demand for power in Ireland made it very attractive.
ESB has sold the plants in accordance with a Commission for Energy Regulation request that it lessen its generating capacity by 1,300MW, bringing its market share to below 40% in a bid to generate more competition.