Business Irish

Tuesday 24 January 2017

Make-or-break year for renewable energy

Published 22/03/2010 | 05:00

THE next nine months will determine if the Irish energy sector can meet national targets to deliver 40pc of electricity from renewable resources by 2020, a conference is to be told this week.

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The conference, to be held on Thursday and Friday, will hear that the wind energy industry is being seriously threatened by red tape.

The conference -- organised by the Irish Wind Energy Association -- begins as reports say energy entrepreneur Eddie O'Connor of Mainstream Renewable Power is seeking to secure €30m from NCB private clients. The company expects to spend €88m on wind energy this year.

"This will be a make-or-break year for the Irish energy sector as decisions and plans that are made this year will have a far-reaching impact," said Irish Wind Energy Association chief executive Dr Michael Walsh.

A study by Deloitte last year indicated that almost €15bn would be invested in the Irish energy sector by 2020 but that this investment needed a stable policy framework to enable investments to take place.

"Our members are growing frustrated at the increasingly difficult investment environment, which is complicated by a lack of co-ordination between official agencies," said Dr Walsh.

Irish Independent

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