<p>Bord Gais currently holds 9% of the electricity market by volume in the Republic of Ireland, having diversified into electricity supply in 2001.While the company currently sources electricity from a range of power producers, it believes that its ability to significantly grow its electricity supply business is dependent on securing its own source of power. <br /><br />The proposed power plant will involve an investment of approximately E300 million and is scheduled to be fully operational by the end of 2009. <br /><br />This represents a significant milestone for Bord Gais in the development of a power generation plant at Whitegate, said Dave Kirwan, head of strategic investments at Bord Gais. The investment in an independent power plant is an important element of our stated long-term dual fuel strategy and will be a significant factor in allowing the company to grow its position as a provider of electricity in the Irish market.</p>