ESB: Investing in Next Gen Clean Energy Projects
ESB is a business with ambitions for change. The energy landscape across Ireland is calling out for decarbonisation and change, and ESB is perfectly positioned to answer the call. Investments into renewable energy and clean distribution activity have already positioned the brand as an industry leader. Importantly, the company is also demonstrating that transition activity makes financial sense.
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For almost a century, ESB has occupied a central role in the development of Ireland’s electricity system. Established in 1927 to manage the Shannon hydroelectric scheme, the company has evolved from a national electrification body into one of Europe’s most diversified utility businesses, operating across generation, transmission support, distribution, supply, trading, and energy services. Today, ESB employs more than 10,000 people and manages operations spanning Ireland and the UK, while continuing to position itself at the centre of Europe’s wider transition towards cleaner and more resilient power systems.
What makes the company particularly significant within the European energy landscape is its ability to balance commercial performance with large-scale infrastructure investment and decarbonisation. At a time when energy security, affordability and sustainability are shaping boardroom discussions across the continent, ESB has emerged as a utility capable of delivering on all three fronts.
The company’s recently announced 2025 annual results demonstrated both resilience and long-term ambition. Despite the operational challenges created by Storm Éowyn and wider international energy market volatility, ESB delivered a robust performance while continuing to invest aggressively in critical infrastructure. Profit after tax reached €636 million, supporting a record capital investment programme worth €2.7 billion. The scale of that commitment is significant not only for Ireland, but also within the wider European utility sector, where operators are under increasing pressure to modernise grids, connect renewable generation and prepare electricity systems for electrified transport and heating demand.
“The results that we are announcing today reflect ESB’s continued commitment to delivering substantial investment in critical energy infrastructure for our economy, our society and our customers. We are rising to that challenge in the context of housing connections and economic growth, climate change, and our net zero carbon ambitions.
“Given events internationally, wholesale energy prices have been volatile and remain at higher levels than those seen before the 2022/23 energy crisis. Electric Ireland cut gas prices in 2025 and was able to maintain electricity prices for its 1.1 million residential customers last winter, at a time when many competitors increased theirs. We remain very mindful of the burden that continued elevated energy prices place on customers and are committed to doing everything in our power to support them,” said Chief Financial Officer, Paul Stapleton.
The figures underline the scale of ESB’s long-term strategy. The company plans to invest approximately €20 billion over the next five years, with up to €16 billion directed towards electricity networks across the island of Ireland. Such investment is increasingly important as Ireland experiences rapid economic growth, increased housing demand and accelerated electrification. ESB Networks alone completed more than 38,000 residential connections during 2025, while smart meter deployment surpassed two million installations nationwide. At the same time, the company continues to reduce the carbon intensity of its generation portfolio, which has fallen by 53% against its 2005 baseline.
Importantly, ESB’s growth strategy is not confined to financial performance or network reinforcement. The company is actively building out renewable generation assets and infrastructure designed to support long-term decarbonisation. Solar power has become an increasingly important component of Ireland’s future energy mix, particularly as technological advances and falling costs improve project economics.
Industry research from the International Energy Agency and KPMG has highlighted the growing role that solar energy can play in strengthening Ireland’s energy independence and lowering carbon emissions, particularly when integrated alongside offshore wind and battery storage systems. ESB has recognised this opportunity early, with around 700MW of solar capacity currently under development.
CLEAN EXPANSION
One of the clearest examples of ESB’s renewable ambition is the Wexford Hub Solar Farm project, which represents a major addition to Ireland’s clean energy infrastructure. Located across multiple sites in County Wexford, the development is expected to play an important role in improving energy security while supporting national decarbonisation targets. As Europe continues to reassess energy resilience following years of price volatility and geopolitical uncertainty, projects such as Wexford Hub are becoming increasingly strategic.
“The project will generate approximately 100MW of clean electricity; enough to power over 25,000 homes,” the company states. “This project will consist of four separate sites of solar panels. Twoof the sites are located at Dennistown and Mayglass, south of the village of Murntown. The other two sites, Growtown and Youngstown are situated northeast and southeast of the village of Taghmon. The sites will be connected to a new 110kV substation located at Dennistown, via two new 33kV (kilo volts) underground cables. A third underground cable will connect the new Dennistown substation to the existing Wexford 110kV substation at Barntown.
“As part of this project, ESB is committed to engaging closely with the local community to ensure the successful delivery of the Wexford Hub Solar Farm by springtime 2027.”
The project demonstrates the increasingly integrated nature of modern utility infrastructure. Beyond renewable generation itself, the development includes substantial grid connection works designed to improve network flexibility and system resilience. That combination of generation and supporting infrastructure is critical as Ireland works to accommodate larger volumes of intermittent renewable energy while maintaining security of supply.
Wexford Hub also highlights ESB’s collaborative approach to project delivery. The company is working alongside Renvolt, the services subsidiary of Voltalia, illustrating how European utilities and technology providers are increasingly partnering to accelerate renewable deployment.
“We are proud to further strengthen our collaboration with ESB through this project led by our subsidiary Renvolt. The Wexford Hub contract illustrates our ability to leverage the expertise of our teams and deliver competitive, reliable solutions to support Ireland’s energy transition. This achievement confirms the relevance of our strategy in this dynamic market, where we have already built or commissioned several major projects. We will continue to invest and innovate to help our clients achieve their low-carbon ambitions, while consolidating Renvolt’s position in Europe,” said Robert Klein, Chief Executive Officer of Voltalia.
The importance of the Wexford Hub project extends beyond generation capacity alone. Ireland’s electricity demand is expected to rise sharply over the coming decade, driven by economic expansion, electrified transport, heat pumps and digital infrastructure. Utilities therefore face the challenge of increasing supply while simultaneously reducing emissions. Solar projects such as Wexford Hub can help address that challenge by diversifying the country’s renewable portfolio and reducing dependence on imported fossil fuels.
Transport is another area where ESB is strengthening its decarbonisation credentials. The company has continued to expand electric vehicle infrastructure across Ireland, investing in high-power charging hubs designed to support growing EV adoption. Recent developments at Blackrock’s Frascati Centre and along the M11 corridor demonstrate how ESB is linking renewable electricity growth with cleaner transport solutions.
“The new high power charging hub at Frascati Centre reflects ESB’s commitment to a cleaner, more sustainable transport future. ESB remains dedicated to investing in the charging network and supporting EV drivers with the continued rollout of high-power hubs across the island,” said ESB Chairman, Terence O’Rourke.
“The M11 is a vital transport artery connecting Dublin, and indeed Belfast, with the southeast, and these new hubs in Brittas Bay and Arklow represent another important step in building a high power, reliable and accessible charging network. By investing in high capacity sites at key locations, we’re making longer EV journeys easier and more convenient for drivers,” said Executive Director, Customer Solutions, Pat Fenlon.
OFFSHORE VISION
Alongside solar and EV infrastructure, offshore wind remains central to ESB’s long-term strategy. Ireland possesses some of Europe’s strongest offshore wind resources, and the company is positioning itself to become a major player in the sector. In late 2025, ESB and Ørsted secured provisional rights to develop the Tonn Nua offshore wind site off the coast of County Waterford, marking another major milestone for Ireland’s renewable pipeline.
“ESB is delighted with the outcome of the ORESS Tonn Nua auction. It secures a clear pathway for the development of a significant project off the coast of County Waterford marking another important step toward Ireland’s renewable energy and Net Zero ambitions. We look forward to working with our partners to deliver a project that provides significant energy security and price certainty for Irish consumers,” said Jim Dollard, Executive Director Generation & Trading.
“We commend the Irish government for running a successful auction continuing the support for the development of offshore wind in Ireland. Offshore wind will play an important part in the future Irish energy system ensuring green, affordable and secure energy. We will continue to work with our joint venture partner ESB to carefully assess and progress this early-stage development opportunity, including ensuring that the project lives up to our value creation criteria,” said Alana Kühne, Head of Region Europe Development at Ørsted.
Taken together, these investments paint the picture of a utility company undergoing rapid transformation while remaining anchored to its historic responsibility of keeping homes, businesses and industries powered. From strengthening electricity networks and developing renewable generation to expanding EV infrastructure and advancing offshore wind, ESB is demonstrating how large-scale utilities can remain commercially strong while leading the energy transition. In an increasingly uncertain energy environment, the company’s integrated model and long-term investment strategy position it as one of Europe’s most important utility operators.
As Ireland accelerates towards a lower-carbon future, ESB appears determined to use every part of its operational capability to deliver secure, affordable and sustainable energy for decades to come.