Minister Seán Canney Welcomes Landmark Government Investment in Electricity Infrastructure

• Angelina Nugent


• 11 Aug 2025

Seán Canney TD, Minister of State for International and Road Transport, Logistics, Rail and Ports and Leader in Cabinet of the Independent Ministers, 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;
• Up to €1.5 billion for ESB to invest in the onshore transmission and distribution network to meet growing electricity demand.

Minister Canney said: “This is a transformative investment in our electricity system — enabling Ireland to meet its housing, transport and climate goals. It will power new homes, electrify our transport system, support our offshore wind ambitions, and give industry the secure supply it needs to grow.”

ESB’s investment will:

• Deliver 27 new 110kV substations to support housing;
• Upgrade 16 substations for electrified public transport;
• Install EV infrastructure for 945,000 vehicles;
• Upgrade capacity for 600,000 heat pumps;
• Replace over 50,000 poles and lay hundreds of kilometres of new grid lines.

EirGrid’s investment will:

• Deliver the new Phase 1 offshore grid infrastructure to connect at least 3.8GW of offshore wind energy;
• Enable the development of Phase 2 offshore connections targeting an additional 900MW and beyond;
• Support long-term security of supply and energy independence by reducing reliance on imported fossil fuels;
• Strengthen EirGrid’s credit rating to attract low-cost financing for further infrastructure delivery in the next decade.

The combined investment will allow Ireland’s grid to meet a projected 50% increase in electricity demand by 2035 and support delivery of key objectives in the National Development Plan and the Programme for Government.

Minister Canney added: “This equity support is not just about funding infrastructure — it’s about unlocking clean energy, new homes, public transport, and long-term affordability. The Government is giving EirGrid and ESB the tools to build a grid that works for people, communities and the planet.