The company has just signed a contract with Italian firm Ansaldo Energia to buy a 300MW open cycle gas turbine for the project.
Kilshane Energy received planning approval last year for the power plant.
The company is part of the Northern Ireland-based and family-owned LCC Group, whose businesses include Go Power.
It was founded by Michael Loughran. It has annual sales of more than £1.2bn (€1.4bn) and in its 2024 financial year made a £44m operating profit.
It has a wide range of interests, including a solid fuel-processing business in Belgium, a coal-washing and processing facility in Spain, as well as a coal operation in Colombia.
Kilshane Energy owns a 70-acre landbank in north Dublin that is zoned for heavy-industry development.
This project is about resilience and flexibility
Alongside the development of the 300MW power station, the company said it is also exploring further strategic development opportunities to support the energy transition on the site, which is adjacent to immediate gas and electricity grid connections, as well as the T50 fibre network that encircles Dublin city.
Kilshane has signed a deal with Ansaldo Energia for an open cycle gas turbine
Today’s News in 90 Seconds – Friday October 10.
The new power plant is designed to be a flexible peaking plant, acting as “back-up generation” for operating times of high electricity demand and low renewable electricity supply, in order to avoid power outages and ensuring security of electricity supply.
The power station is expected to operate for between 22 hours and 95 hours in a year, with an annual average operation time of 46 hours.
It’s due to be commissioned in 2028.
“This project is about resilience and flexibility,” Brian McMullan, the project lead for the power station development, said. “As Ireland moves towards a net-zero energy system, we need reliable back-up generation to complement growing renewable resources,” he added.
During the summer, UK energy firm SSE, which owns SSE Airtricity, said it will proceed with the construction of a new 170MW power station in Co Meath, costing about €300m.
The new power plant will also operate as a back-up facility as more renewable energy is added to the electricity grid. In February this year, SSE also confirmed that it will proceed with construction of a 300MW power plant in Tarbert, Co Kerry. It will also cost about €300m.