US power plant giant Argan doubles revenues in Ireland to €62m

The company, which operates in Ireland through its subsidiary Atlantic Projects Company (APC), signed multi-million-euro engineering and construction services contracts in 2022 with ESB to build three gas-fired power plants in Dublin. It was part of measures to underpin the country’s stretched generation capacity.

Energy officials realise the increase in electricity demand is a significant risk to security of supply

According to Argan’s 2023 annual report, the company recorded consolidated revenue of $68.2m in Ireland, up from $35m in 2022 and $13.6m in 2021.

In the annual report, Argan said the Government had recognised the successful development of data centres in the country was “a key aspect in promoting Ireland as a digital economy hot-spot in Europe”.

“The stewards of the electricity supply in Ireland recognise that the large increase in electricity demand presented by the growth of the data centre industry represents an evolving, significant risk to the security of the supply,” Argan said in the report.

Argan recently finished a project to install natural gas-fired power generation for a large data centre in the Dublin

The company said guidelines had been published to protect electricity consumers and supply security while allowing data centres to connect.

Argan added it had recently completed a project to install natural gas-fired power generation for a significant data centre in the Dublin area.

Argan’s APC was recently provided with "limited notices" to proceed with activities for an open-cycle gas turbine power facility in central Ireland.