A 650 million euro renewable energy project in Silvermines is expected to reach the formal planning process in the first quarter of next year.
An update on the ambitious hydro-electric station has been issued by management.
The Silvermines Hydro project would see electricity produced by pumping water from a high reservoir to a low reservoir through giant turbines.
The lower reservoir, at a depth of 70 metres, already exists by way of an open-cast mine which is flooded.
The 360 Megawatt plant has already been included in the European Commission’s ‘Projects of Common Interest’, and would have the capacity to generate electricity for 200,000 Irish homes.
CEO Darren Quinn has announced that the plans will go to the first stage of the planning phase in the first quarter of next year, with the project still on target for commissioning in 2028.
He says the pandemic has impeded progress with some exploratory work at the site, but he says that “momentum has been regained”.
