Receipt of the Capacity Bond by ESB Networks
The construction phase begins when we receive the executed Capacity Bond and also get confirmation from our solicitors that the transfer of the substation site title has been completed.
Release of the Design Bond
Once the construction phase begins, ESB Networks notifies the financial institution to release the Design Bond provided for in the design phase by issuing a Design Certificate. The Design Certificate certificates that the Design Phase has been completed
and the Construction Phase has commenced and authorises the release of the Design Bond.
Release of the Capacity Bond
ESB Networks authorises the issuing financial institution to release the Capacity Bond when:
The pre-existing spare capacity on the medium voltage (MV) network within the Business Park (as stated in the Letter of Agreement and the Capacity Bond), or 30% of the minimum capacity of the relevant HV station, whichever is the greater, has been contracted
by signed Connection Agreements and the new customers have been connected for not less than six months.
A Capacity Certificate is issued to the financial institution authorising the release of the bond.