The Irish government has passed a landmark €3.5 billion vestment in Ireland's electricity grid infrastructure (2026-2030) as part of the National Development Plan. The investment will see €1.5 billion allocated to ESB Networks and €2 billion to EirGrid, enabling both companies to significantly increase capital investment to expand our onshore and offshore electricity transmission and distribution network infrastructure.
This historic commitment will future-proof Ireland’s electricity system and ensure it can meet the growing demands of the economy, homes and climate targets. Major investment is essential if the shift to renewables is to guarantee affordable and reliable energy for the long term.
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The enhanced grid will be crucial to deliver on key Programme for Government commitments, including achieving 80% renewable electricity by 2030. This requires building 9GW of onshore wind, 8GW of solar power, and 5GW of offshore wind in construction by 2030 – targets that depend on a world-class electricity network.
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The scale of the investment reflects the level of expenditure needed across most European countries as they work to expand renewable energy connections, improve interconnection with neighbours and ensure reliable networks for a more electrified energy system.
80% renewable electricity by 2030
Commenting, Minister Darragh O'Brien said: “This €3.5 billion investment is about building the energy infrastructure Ireland needs for the future. It will help deliver energy security for Irish families and businesses, while supporting our target of generating 80% of electricity from renewable sources by 2030.”
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The investment forms part of the Price Review 6 (PR6) process currently underway, with a final decision from the Commission for Regulation of Utilities (CRU) expected by year-end.
Equity injection for ESB Networks and EirGrid
The government equity injection for ESB Networks and EirGrid (€1.5 billion and €2 billion respectively) will strengthen their balance sheets and help maintain strong credit ratings. This, in turn, will support low-interest borrowing, reduce overall investment costs, and help limit impacts on customer bills. The equity funding will help mitigate increases in electricity network charges. (hcn)
