Richard Bruton (Dublin Bay North, Fine Gael) | Oireachtas source

The national broadband plan is a plan to design, build and operate a network which will make high speed broadband available to every home in rural Ireland within seven years and to continue to operate the service for 35 years. Granahan McCourt relied on the resources of Tetrad Corporation and McCourt Global LLC to demonstrate its economic and financial capacity for the purposes of the pre-qualification process and the requirements for doing so are set out in the project information memorandum, including at section 10.2, and the pre-qualification questionnaire. Tetrad Corporation and McCourt Global LLC provided letters of support as part of that process. Tetrad Corporation and McCourt Global both reiterated their support at final tender and Tetrad Corporation provided a commitment letter in relation to the equity required for the project. The equity commitments will be contractualised in advance of contract award. This means that the Minister will have the right, through those contracts, to enforce the equity commitment on behalf of the project. This committed equity from the bidder will be invested ahead of the Government subsidies, thereby placing this investment at risk first.

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