Galway East TD and Minister of State for International and Road Transport, Logistics, Rail and Ports Sean Canney has welcomed Cabinet approval for up to €3.5 billion in Government equity support for ESB and EirGrid - unlocking over €18 billion in electricity grid investment between 2026 and 2030.
The investment includes up to €2 billion in equity support for EirGrid to develop Ireland's offshore electricity grid including delivery of the new Phase 1 and Phase 2 offshore wind connections and up to €1.5 billion for the ESB to invest in the onshore transmission and distribution network to meet growing electricity demand.
Speaking to Galway Bay FM News, Minister Canney said it is vital that this money is put to use quickly to deliver the infrastructure required.
