IRELAND IS set to overshoot its target for generating 40 per cent of its electricity needs from renewable energy by 2020, Minister for Energy Eamon Ryan revealed yesterday.
Mr Ryan, addressing the National Summit on Renewable Energy at Croke Park, Dublin, said renewable energy targets were ahead of target and “about three” new interconnectors linking Ireland to the UK and France were in planning. In addition, he had recently approved a study on an undersea high voltage cable which would link offshore-wind farms to electricity grids on both sides of the Irish Sea, he revealed.
Mr Ryan was speaking as the European Commission signed off on a grant of €110 million for the development of the east-west interconnector between Deeside in Wales and Co Meath.
The European Investment Bank has also announced “soft loans” which will see up to €300 million invested in the interconnector. A further allocation of up to €200 million has been approved by the bank for development of the ESB’s renewable energy businesses, principally wind farms.
But while the Minister said Ireland was “as good as it gets, electrically” and he was in a position to offer “to the Googles of this world” clean, secure energy, he clashed with the banking industry on their support for renewable projects.
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