30 Oct 2015
Metropolitan Area Network (MAN) operator E-Net has received an initial investment of EUR12 million (USD13.1 million) from the European Investment Bank (EIB), to support the expansion of its next generation fibre-optic network. According to a company’s press release, the loan was agreed in December 2014 and is the EIB’s first Irish project under a new Innovfin programme, which is aimed at ‘streamlining lending for innovation’. E-net will use the funding to develop its telecoms infrastructure across Ireland ‘over the coming years’.
E-net’s existing investments include a fibre-to-the-building (FFTB) rollout, launched in February 2014 and delivering download speeds up to 250Mbps directly to business premises; Claemorris was the first town to be covered under the FTTB project, with Loughrea, Ardee and Kilkenny next in line.
E-net CEO Conal Henry commented: ‘… the EIB understands the long-term nature of infrastructure projects, which is critical for E-net and indeed the State as we embark on the national broadband plan. The need for high quality broadband throughout Ireland for both businesses and households is well known and we look forward to helping to deliver this to as many households as possible through our open-access fibre networks.’