The funding will allow Siro to almost double the size of their network, aiming to pass around 320,000 additional premises with fibre-to-the-home (FTTH)
Ireland moved one step closer to its gigabit society goals this week, with wholesale network operator Siro having received €620 million in fresh funding, allowing it to almost double its FTTH coverage across the country.
Siro was first launched in 2015 as a joint venture between ESB and Vodafone. Since then, the open access, wholesale fibre network has grown to cover around 450,000 premises around Ireland, focussing primarily on regional towns and underserved areas.
To date, around €450 million has been invested in the network.
Now, with the additional investment provided by the European Investment Bank and a syndicate of Irish and international investors, Siro intends to increase that reach to 770,000 homes and businesses in 154 Irish towns. In total, this will mean Siro’s network could potentially serve 2.1 million people.
“Siro’s investment is very positive in terms of creating greater access to reliable fibre broadband for more towns across Ireland,” said Taoiseach Micheál Martin, attending the announcement. “Creating a fully connected Ireland is a fundamental objective of government, achievable through partnership between public and private funded operators, such as Siro, working together to reach this goal.”
In addition to creating a more connected nation, Siro noted the potential environmental benefits of a more digitally enabled society, potentially unlocking the prospect of working from home for some of the country’s more remote families.
“Connecting over two million people as part of a gigabit society matters because it means that more people have the option of working from home, with less cars on the roads and families able to spend more quality time with each other,” said Siro’s CEO John Keaney.
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