The ESB and the European Investment Bank (EIB) have signed a loan facility for €100 million to enable continued investment in the electricity network in the south west region.

This is the second part of a total loan facility of €200m agreed by ESB Networks with the EIB. The first tranche was signed in December last year.

EIB has been a partner to ESB in investing in the Irish electricity infrastructure for many years.

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Marguerite Sayers, Incoming MD, ESB Networks Ltd said: "Both of our strategies are firmly aligned in terms of sustainability, protecting the environment and developing world class energy infrastructure and we are also aligned in our requirements for commercial long lasting investments. This latest loan will enable further development of renewable generation in the south west region of the country. I look forward to working with the EIB in the years to come as we ensure our electricity infrastructure remains a world class benchmark for leading technology and wind farm connection."

(CD/IT)