New Irish coalition is focused on delivering a ‘renewable energy revolution’
The three political groups that are nearing representing the next government are set to hold annual RESS auction rounds and adopt a target of 5GW.
The parties have promised a revolution in the renewable energy market, incorporating annual capacity auctions and an increased offshore wind target of 5GW. Fianna Fail, Fine Gael and the Green Party have a produced a coalition agreement focusing on the accelerated decarbonisaiton of the energy industry. The parties have stated a target to achieve at least 70% renewable electricity by 2030 and hold the first auction under the new support scheme RESS for solar and onshore wind this year, followed by annual rounds. In terms of the offshore industry, the parties have committed to an entire government plan formulating a path to reaching 5GW capacity off the south and eastern coastline by 2030, a significant increase from the existing target of 3.5GW.
The agreement includes plans to adopt a long term structure to take full advantage of the nation’s potential for offshore energy. The plan will provide detail on how Ireland can become a major contributor to renewable energy generation and transmission across Europe, utilising the potential excess of 30GW of floating offshore wind power in the deeper Atlantic.
An additional offshore wind auction is due to be held in 2021 according to the three political parties and further measures are expected to be introduced such as new consenting laws within a nine month period. Representatives from the three parties, along with the former Energy Minister and Green Party leader Eamon Ryan have delivered the new agreement. The next stage for the three parties is securing the support of their wider parties over the next few days to affirm the coalition and deliver the administration plans.