The Government yesterday began seeking a private-sector partner to operate a €70 million energy efficiency fund launched earlier in the year that it believes could create close to 5,000 jobs.

Minister for Energy Pat Rabbitte launched the fund earlier this year. He said it would invest in energy efficiency projects across the economy, creating up to 675 jobs, direct and indirect, for every €10 million invested.

His department published advertisements yesterday seeking expressions of interest in the project from the private sector.

A spokesman said that it was hoped to have the fund up and running by the end of the year. The proposal is that the Government will put up €35 million and private-sector investment would match that sum for a total of €70 million.

The private sector partner or partners would manage the fund.