The Silvermines Hydro Electric project is set to go to planning early in 2025.
Public consultation on the multi-million Euro project is due to take place next month.
The plant would produce electricity by pumping water between two reservoirs with the lower one being the old open-cast mine and would have the capability of powering 200,000 homes.
Local Labour TD Alan Kelly – who has been a champion of the development since the idea was first mooted – says the project is now very much becoming a reality and a transformational one for the locality, region and the State.
“I have been on the site this week. I have met with Darren Quinn, the CEO and other members of Siga Hydro. It is an incredible project with zero emissions – it is the future and it will be a project that will be renowned throughout Ireland.
“There will be 400 jobs during construction and over 100 jobs when it is completed and there will also be other initiatives – community benefits – from the project as well as cleaning up the old mine site.”
Deputy Kelly has praised the commitment of Siga Hydro in getting the project to this stage.
“I have worked with them for nine years to ensure that this happens so it’s a fantastic day for the Silvermines, fantastic for North Tipperary and fantastic for Ireland. These are the type of project we should be supporting into the future and this €650 million investment will be one of the largest private investments in Ireland ever. And particularly it will be symbolic as the largest private project in relation to the environment and energy that we have had.”
