Brendan Howlin (Wexford, Labour)
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Question 84: To ask the Minister for Communications, Marine and Natural Resources if, in view of the reported bid by Bord na Móna to purchase EON's Edenderry power plant the company is being transformed from a peat harvesting and production company to a broader based energy operation with renewable energy and waste management interests; if so, the implications for Bord na Móna's long-term commercial status; and if he will make a statement on the matter. [6715/06]

Noel Dempsey (Meath, Fianna Fail)
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The current core businesses of Bord na Móna plc — peat stock supply and horticultural products — are finite businesses due mainly to economic and environmental factors. Bord na Móna will continue to operate its existing peat supply, solid fuels and horticultural businesses to optimise value to the group while implementing new strategic directives.

I agree with the company's board and management that Bord na Móna should move to strategically diversify to underpin sustainable long-term viability for the company and ongoing shareholder value. The company has identified a number of strategic opportunities in emerging and expanding sectors around which to develop, expand and diversify the group's business.

Bord na Móna has, therefore, developed detailed future strategy proposals which I recently approved in consultation with my colleague, the Minister for Finance. This future strategy aims to transform Bord na Móna to a group in the energy, environmental and waste management sectors.

The identified strategic opportunities focus on: development of a waste management business; the potential for co-fuelling with biomass to extend the life of the peat-fired generating stations beyond the lifetime of the existing public service obligation contracts; growth of the alternative and renewable energy business through joint ventures in wind farming and potential supply of biomass in place of peat-stock to the peat-fired generating stations; possible ownership of peat-fired power stations; and research and development.

The proposed new strategic direction reflects the maturity of Bord na Móna's current businesses and its requirement to generate new commercial activities. Bord na Móna has historically had a mandate to operate commercially and the approved strategy is fully consistent with that mandate.

The taking forward of individual projects under the strategy will be subject to board approval and the requisite shareholder approvals from myself and the Minister for Finance. I have not as yet received any formal proposals on individual projects including any which have been the subject of recent media speculation.