The future of the Silvermines hydroelectric power station in North Tipp looks much brighter today after an announcement by the European Commission.
The planned pumped storage scheme has now been designated as an EU Project of Common Interest.
This will make it much more attractive for institutional investors.
Speaking from Brussels Ireland South M.E.P. Sean Kelly said the PCI designation delivers on two fronts.
“I’m delighted to see the Silvermines hydroelectric power station being mentioned.
“It’s a very good project that answers not just in terms of electricity supply but also environmental concerns in the area.”