Contracts to treble the output of renewable energy-based electricity over the next 15 years were put on offer yesterday by the Minister of State for Energy, Mr Joe Jacob.

At the annual conference of the Irish Wind Energy Association in Ennis, Mr Jacob said he was seeking 255 megawatts of electricity from renewable sources under the new Alternative Energy Requirement competition.

Currently 118 MW of the national capacity of 4,750 MW comes from such sources. He is offering price caps ranging from 3.79p for large-scale wind electricity to 5.1p for small-scale hydro electricity. This will create more than £200 million (#254 million) of investment opportunities, save on the import of 300,000 tonnes of fossil fuels and prevent the emission of more than one million tonnes of greenhouse gases, Mr Jacob said.

The chairwoman of the Irish Wind Energy Association, Ms Inge Buckley, said it would enable producers to sell electricity to the ESB under a public service obligation contract for 15 years.

"We have almost 300 megawatts with full planning permission and most of that has been waiting for this announcement. Now we are expecting a flurry of activity."

Mr Jacob said the competition, based on competitive tendering, would place the renewable energy sector "foremost among the solutions needed to meet our Kyoto obligations" on greenhouse gas emissions.