13 June 2019. Greenlink Interconnector Limited has announced today that it has appointed the former Chief Executive of ESB, Padraig McManus, to its Board. Mr McManus will take on the role of Board Director for the company, which is a project to construct a subsea interconnector to link the power markets of Ireland and Great Britain.
Greenlink will use a subsea and underground high-voltage direct current (HVDC) cable system to connect the power markets of Ireland and Great Britain, improving the security of electricity supply in both countries and reducing average electricity costs for consumers. The project is considered of critical importance in Europe and has been awarded "Project of Common Interest" status by the European Commission. Construction is scheduled to commence in 2020 and is expected to be completed by 2023.
Padraig McManus was Chief Executive of the Electricity Supply Board (ESB), Ireland’s state-owned electricity utility, between 2002 and 2011, and in 2010 led the £1bn-plus acquisition of NIE Networks. Most recently, between 2012 and 2017, Padraig was Chair of Eir, the telecommunications group.
Angus Norman, Interim Program Director for Greenlink, said;
“We are delighted to welcome Padraig onto the Greenlink Board. He brings with him a deep knowledge of the Irish electricity market, experience of managing large infrastructure projects and investments in Ireland and abroad, and a great deal of respect across the industry, all of which will be hugely beneficial to the project. Padraig will be a great asset to Greenlink as we approach the major milestones of submitting our planning applications and making plans for construction.”
Padraig McManus said;
“I look forward to working with the Greenlink team and on a project that will bring significant benefits for both Ireland and the UK - better energy security, regional jobs and investment, and greater integration of low carbon power sources. Consumers will also benefit from greater competition between Irish and UK energy suppliers.”
As well as being instrumental in the general governance of the company, Padraig, with his strong industry knowledge, will also provide counsel and advise on various aspects of the project as it develops.
Subsea survey work for the project has been completed, procurement for the major construction contracts is under way, and onshore and marine planning applications will be submitted by the end of 2019. The project is expected to have a three-year construction programme, offering local supply chain opportunities and leading to commissioning in 2023.
CONTACT FOR MEDIA ENQUIRIES: Anna Stanford, Communications Consultant: M: +44 7961 234634 Anna.Stanford@greenlink.ie
Notes to Editors:
About Greenlink
Greenlink is a proposed interconnector linking the power markets in Ireland and Great Britain. The project comprises a subsea and underground cable and associated converter stations to connect EirGrid’s Great Island transmission substation in County Wexford (Ireland) and National Grid’s Pembroke transmission substation in Pembrokeshire (Wales). It has a nominal capacity of 500MW. The project is being developed by Greenlink Interconnector Limited and is expected to be fully operational by 2023. More details at: www.greenlink.ie @Greenlink_IC
About Padraig McManus
Padraig McManus was Chief Executive of Ireland's leading energy company, ESB, for 10 years. In 2010 he led the £1bn-plus acquisition of NIE Networks from the Bahrain-based Arcapita Bank and personally dealt with the financial, political and general stakeholder issues in integrating the business into the ESB Group. In 2008 he led the sale of a tranche of ESB’s Power Generation Portfolio to Endesa of Spain in a ground-breaking deal with Trade Unions and the Regulator to reduce dominance and allow competitors into the market. In 2003 he directed the first Private Placement fundraising package in the US of €1.1bn on behalf of ESB. He sold ESB’s electrical appliance retail business and outlets to Bank of Scotland Ireland. He once worked as a HR Manager and was part of every major restructuring programme in ESB that reduced core staff levels below 6,000. He led projects for ESB in Ghana, Sierra Leone, Gambia, Cambodia, the Philippines and Vietnam. Padraig has served on a number of other boards including the Economic and Social Research Institute of Ireland (ESRI) and is a Global Counsellor with The Conference Board of the US. He has led Volunteer Groups to Ghana to rebuild Primary and Secondary Level Schools that cater for 6,000 students.