Chief financial officer Michael O’Sullivan says the successful bond issue “demonstrates the real momentum behind Irish companies on international markets” after a long period of difficulty.

But the auction – offering up bonds with a five-year maturity at a coupon of 3.625% – is also a vote of confidence for the company’s near-term investment plans, which focus heavily on renewables.

Bord Gais is the largest owner of installed wind capacity in Ireland, its 132 turbines spread across 13 projects representing 15% of the country’s roughly 1.7GW