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€55m in funding to help companies move away from fossil fuels

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Stock photo.

Stock photo.

Stock photo.

wexfordpeople

A NEW €55m fund has been launched by the Government to help companies, including those from the model county, transit from using fossil fuels to more sustainable alternatives.

The Green Transition Fund is part of Ireland’s National Recovery and Resilience Plan (NRRP), which is funded by the European Union.

Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar, together with Minister of State at the Department of Justice and Equality with responsibility for Law Reform James Browne and Minister of State for Land Use and Biodiversity Senator Pippa Hackett announced the fund.

“Putin’s war on Ukraine has highlighted the vulnerability of becoming too reliant on finite resources controlled by other states. We need to help Irish businesses now prepare for a future where economic growth and fossil fuels are not intertwined. This fund is an important help,” said the Tánaiste.

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There are two strands to the fund, with the Climate Planning Fund set to provide businesses with funding to help them come up with a personalised plan to identify the best ways to remove their reliance on fossil fuels. A €1,800 grant to develop a plan and up to €50,000 matched funding to go towards specific capacity building within an enterprise are among the grants available.

The Enterprise Emissions Reduction Investment Fund will give manufacturing businesses funding to invest in carbon neutral heating processes, smart metering and energy monitoring, and research and development. Up to €1m is available for businesses to upgrade their processes. The programmes will run over the next five years.

See www.enterprise-ireland.com/greentransitionfund.


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