Viridian, formerly known as Northern Ireland Electricity, is actively pursuing a number of opportunities in the Republic although "nothing is yet signed, sealed or delivered", according to the company's business development manager, Mr Michael McKernan.

"We are going after generation opportunities in Ireland and beyond," Mr McKernan says. "In Ireland the projects we are pursuing include an independent power project (IPP). We are quite determined to do that." Such a project would cost around £150 million but Viridian is aiming to take advantage of deregulation of the Irish electricity market which will allow the top 300 corporate users of electricity in the State to choose their power provider by February 2000. In 2003, one-third of the Irish market must be given access to competition.

Viridian is also looking at a number of combined heat and power projects (CHPs), where it gets involved with third parties who need cheap power and heat to provide them with what is effectively a miniature power station. Guinness already has its own CHP, producing around 15 megawatts, as do a number of Dublin's larger hotels and hospitals. Typically, CHPs produce around 3 to 5 megawatts and cost a few million pounds to develop. They are suitable for companies with both heat and power requirements, including firms in the foods and drinks industry and pharmaceutical companies.

Viridian says it has submitted bids to provide CHPs in a number of cases and these are currently under consideration. It is also in direct discussions on an exclusive basis on the issue with a number of other parties. "We are very optimistic we can announce something on CHP and we are very determined about IPP," Mr McKernan says. The company is also in discussions about a site for its independent power project although nothing has yet been agreed.