Pat O’Doherty, former chief executive of ESB, will chair Maresconnect Ltd, which plans to build a power line between the Republic and Britain.
Maresconnect plans to build a power line linking Dublin and Wales with a capacity of 750 megawatts, almost the equivalent of two medium-sized power stations.
The company announced on Monday that it had appointed Mr. O’Doherty as chairman and non-executive director. He was chief executive of the ESB group until last year.
During his career with the public energy company, he led each of its main activities, including the international division, networks and power generation.
Backed by private equity specialist, Foresight Group and managed by Etchea Energy Partners, the Maresconnect interconnector will carry enough electricity to power around 570,000 homes.
The 245km cable will link substations at Maynooth, Co Kildare and Bodelwyddan, Denbighshire, Wales.
UK 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 Republic Utilities Regulatory Commission to obtain a license and approval here.
The company hopes the interconnector can start shipping power in 2027.
Mr Doherty said Maresconnect would provide essential infrastructure for both countries.
“In Foresight Group and Etchea Energy, we have the scale, the commitment and the ability 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, managing director of Maresconnect, predicted that the former ESB director’s experience would benefit the company.
Foresight, listed in London, focuses on areas such as wind and solar power, bioenergy, waste and infrastructure. The firm managed assets worth £12.4bn as of June 30 this year.
Etchea, based in Dublin and London, specializes in the management of energy projects.