Ministers spin up £150m Coolkeeragh generating plant

NIO Minister for Enterprise, Trade and Investment, Ian Pearson, and ROI Minister for Communications, Marine and Natural Resources, Dermot Ahern, today jointly launched phase one of the new combined cycle generating turbine (CCGT) at Coolkeeragh.

Unveiling a commemorative plaque to mark the event in Londonderry, Mr Pearson said that Coolkeeragh represented the "second major gas plant investment" for Northern Ireland in recent months.

The Ministers attended an event at the Coolkeeragh power plant just outside Londonderry along with representatives from Coolkeeragh Power, ESB, local politicians and business people.

The power station has secured 40 jobs with up to 600 jobs created during the construction phase.

Mr Pearson said: "Locally based subcontractors and suppliers have already secured contracts totalling some £20 million. In addition, the station will also help local businesses in the North West with local supply contracts worth up to £7 million per year."

Welcoming the involvement of key players from the Republic of Ireland the Minister said the important addition to the NI energy infrastructure had been developed as a cross border partnership - Coolkeeragh ESB Ltd. While the majority of the power station’s output will be supplied to the Northern Ireland market, it is notable that Coolkeeragh will be a player in the all-island energy market as well.

Mr Pearson said: “I am therefore very pleased to be working with Dermot Ahern to agree areas where greater all-island co-operation would be mutually beneficial. This includes looking at the practical work that can be done now in areas such as cross-border trade in electricity, systems integration, and regulation, and the longer-term work that will need to be addressed over the period of the new Energy Strategy.”

Referring to his announcement at the CBI’s annual lunch on 24 September and the draft Budget announcement made on 6 October Mr Pearson said that the price of electricity, particularly to industrial users, has been a constant difficulty raised by businesses in Northern Ireland as hampering competitiveness.

One of the proposals contained in the 2003 draft budget is for the allocation of £30 million to help address the high cost of electricity for Northern Ireland’s businesses.

(SP)