Alan Kelly (Tipperary North, Labour) | Oireachtas source

Of course Irish Water is involved in discussions because it is its job to be involved in discussions relating to how it plans to create capacity for investment into the future. It must be borne in mind that Irish Water is statutorily debarred from agreements which involve the transfer of its assets. Therefore, it can only raise finance external to that by loans because it cannot be done by assets or equity. I remind the Senator that is the premise because Irish Water is debarred by statute from transferring assets. Those are the terms under which it must act. Any future borrowing is based on its revenue model and it will have to raise finances in the furture. The investment levels which will be needed in the future are quite huge and this is one of the primary reasons that Irish Water was established in the first place.