EIB backs proposals by local authorities on energy saving
Irish local authorities are being encouraged by the European Investment Bank to come up with energy-saving proposals that could be financed by the bank’s growing fund for environmental and climate change projects.
Last year, the EIB invested €18.5 billion in this sector – a third in renewable energy projects, somewhat more than that on sustainable transport schemes and the rest in energy efficiency, industrial processes, research and development.
EIB vice-president Simon Brooks said the bank was well aware that Ireland was “going through a difficult time” and it was committed to providing assistance for projects that would reduce its €6 billion a year import bill for fossil fuels.
In November, the EIB awarded €155 million in new funding for Bord Gáis to develop six wind farms in Clare, Kilkenny and Tipperary over the next two years.
“Our door is open for sensible proposals, such as putting in more charging points for electric cars. We’re supporting . . . other early stage initiatives to give them a chance of proving themselves.”