The new Central Dublin Substation will connect electricity from the national grid to the local network.
Construction work on the new substation is expected to commence in 2028.
EirGrid will be holding a series of public information events locally on its substation development project over the coming weeks.
The Central Dublin Substation will be a key enabler for the growth in electrically-powered forms of transport, including electric vehicles and public transport options, along with the rollout of electric heat pumps, which is gathering pace.
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As well as securing local electricity supply for the future, the project will be vital in bringing greater amounts of clean renewable energy onto the system, and supporting residential and commercial development.
EirGrid Chief Infrastructure Officer Michael Mahon said: "This new substation will be key to ensuring a continued secure supply of electricity for the central Dublin area.
"This is part of not only a wider programme across Dublin but a national programme of upgrades to electricity infrastructure to support the transition to a renewable energy future. "EirGrid wants to make sure that communities have the benefit of this transition, which is why projects like this on a local level are important.
"We are committed to putting communities at the centre of our work. In line with this commitment we will keep people in the local area informed every step of the way as the project progresses, beginning with a series of public information events over the next few weeks.
"We will also continue to work with other utilities, local authorities and public service providers through the Dublin Infrastructure Forum set up by EirGrid to ensure there is joined-up thinking for works taking place in the city.
"Later in the process we will be sharing details of an associated Community Benefit Fund, recognising the role of local communities in hosting important grid infrastructure."
