Energy Minister Jim Mather said the study would explore the potential for the transmission of electricity generated by offshore renewables off the west coast of Scotland, the north and east coasts of Northern Ireland, the Irish Sea and the west coast of the Republic of Ireland.
The announcement came as Mr Mather met Irish Minister for Communications, Energy and Natural Resources Eamon Ryan in Glasgow to discuss the two countries' mutual energy interests.
Mr Mather said: "Scotland has a clear, competitive advantage in developing clean, green energy sources. This Government has an ambitious target to generate 50 per cent of Scotland's electricity from renewable sources by 2020.
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"To realise the potential of the huge wind, wave and tidal resources at our disposal, we need to examine the longer term development of our grid infrastructure in partnership with government in the Republic of Ireland and Northern Ireland.
"The feasibility study will allow us to explore the various challenges associated with the development of an offshore transmission network and help make the case for commercial investment."
Minister Ryan said: "I welcome this opportunity to work with my Scottish counterpart, Mr Mather. Ireland, like Scotland and indeed Northern Ireland, has ambitious renewables targets to meet and I believe that our Governments can work together to achieve these.
"Our shared location, on the periphery of Europe and close to both the Atlantic and North Sea, gives us a distinct advantage. We have a vast wealth of free natural resources that we can harness to provide ourselves with a clean and sustainable source of energy.
"It is imperative that we develop an effective grid system that will allow us to work in partnership and I am delighted to be here today, to discuss the numerous opportunities that await. I look forward to working with Mr Mather in the future to achieve them."
The ISLES (Irish-Scottish Links on Energy Study) project is to be launched later this year.
(GK/JM)
