Ireland to launch renewable energy auctions this year
Dublin, Ireland – A major auction for renewable energy in Ireland is set to begin next month, and will see €1bn raised over the next four years to help businesses compete with coal and gas.
The Energy Authority of Ireland (EIA) said it expects the auction, called Renewable Energy Opportunities Ireland (REI), to attract an estimated 5,000 applications in total, with the biggest applicants being small businesses.
The EIA will also be conducting a feasibility study into whether renewable energy can be offered in some areas of the country, with a view to opening up the scheme to a wider market.
Ireland is in the midst of a $4.5bn renewable energy programme, with over half of it from private investors.
The scheme, dubbed Renewable Ireland, is aimed at encouraging people to invest in green energy and boosting economic growth, but has been criticised by some quarters for its environmental impact.