Pat O’Doherty, former ESB chief executive, will chair Maresconnect Ltd, which plans to build an electricity line between the Republic and Britain.
Maresconnect plans to build an electricity line linking Dublin and Wales with a capacity of 750 mega watts, almost equivalent to two average-sized power plants.
The company announced on Monday that it had appointed Mr O’Doherty as chairman and non-executive director. He was ESB group chief executive up to last year.
During his career with the State-owned energy company, he ran each of its main businesses, including the international division, networks and power generation.
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Backed by private equity specialist Foresight Group and managed by Etchea Energy Partners, Maresconnect’s interconnector will carry enough electricity to power about 570,000 homes.
The 245km cable will connect substations at Maynooth, Co Kildare and Bodelwyddan, Denbighshire, Wales.
British energy regulator Ofgem has licensed Maresconnect while the country’s national grid has approved the project.
The company is working with national electricity grid operator Eirgrid and the Commission for the Regulation of Utilities in the Republic to get licensed and approved here.
The company hopes the interconnector can begin shipping electricity in 2027.
Mr Doherty said Maresconnect would provide critical infrastructure for both countries.
“In Foresight Group and Etchea Energy, we have the scale, commitment, and capability to make this project a real success for all stakeholders.,” he added.
Foresight Group partner Richard Thompson welcomed Mr O’Doherty to the board. Simon Ludlam, Maresconnect chief executive, predicted that the former ESB manager’s experience would benefit the company.
London-listed Foresight focuses on areas including wind and solar power, bioenergy, waste and infrastructure. The business was managing assets worth £12.4 billion on June 30th this year.
Dublin- and London-based Etchea specialises in energy project management.
