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€650m Silvermines Hydro Electric Power Station project launched

Written by Robert McHugh, on 11th Jan 2016. Posted in General

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Plans for Ireland’s most effective electricity generation plant have been launched by the Minister for Environment, Community and Local Government, Alan Kelly.  
 
The Silvermines Hydro Electric Power Station Project will be developed from the existing disused open-cast mining site, where operations ceased in 1993, south of Silvermines village in North Tipperary.   

The project, which has been worked on for six years, will involve a total investment of €650 million in what is one of the largest ever private infrastructure spends in the county. 
 
It begins with a detailed feasibility assessments and consultation programme with the local community before moving to an 18 month to two year planning process later this year.  

The four-year construction phase will create up to 400 jobs, the bulk of them locally, with up to 50 permanent jobs at the plant thereafter. The overall value of benefits flowing into the national economy will exceed €2.5bn over the lifetime of the plant.
 
Furthermore, the project will not alone be a zero emission hydro electric power station but will also greatly advance the environmental rehabilitation of the area, with water in the existing reservoir set to be decontaminated, ending the seepage of harmful minerals into local water tables.   
 
Environment Minister, Alan Kelly today said, "From a wider Tipperary perspective it will generate a huge windfall in the construction phase, with 400, mostly local, jobs alone in construction and, thereafter, ongoing sustainable on-site jobs.

"From a national perspective, it will significantly advance Ireland’s transition to a low carbon economy, with 360MW of electricity generated for this renewable source five hours each day.  This will be enough to supply 200,000 homes – more than three times the total number of households in Tipperary."

Source: www.businessworld.ie

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