Ireland could fund renewable projects elsewhere as part of EU deal to meet climate targets

Ireland could help fund renewable energy projects in other European countries as part of a deal to help the Government meet its climate targets.

Minister for Climate Darragh O’Brien received Government approval on Wednesday for Ireland to send a non-binding expression of interest in taking part in the EU Renewable Energy Financing Mechanism.

As a contributing country, Ireland would offer financing for renewable energy projects in other member states. In exchange for funding the projects, the renewable energy generated from the foreign projects would then count towards Ireland’s renewable energy targets.

The European Commission’s renewable energy directive has set a target for 2030, by which point it wants 43 per cent of the European Union’s gross energy consumption to be from renewable resources.

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Countries can comply with the directive either by increasing the renewable energy they generate domestically, making voluntary payments to the renewable energy fund, buying statistical transfers from countries that are ahead of their targets, or adjusting the shares that they have in transport and the heating and cooling sectors.

Ireland is already on track to miss its own renewable energy target of 34.1 per cent by 2030. The Government believes that joining the EU Renewable Energy Financing Mechanism would stop Ireland having to rely on buying statistical transfers from other countries to meet its 2030 targets.

Meanwhile, the Cabinet also heard a proposal for Ireland to host the first golf for the disabled event as part of Ryder Cup 2027.

Minister for Sport Patrick O’Donovan told Ministers that it will be the first time that such an event would be part of the Ryder Cup, which is due to take place next year in Adare, Co Limerick.

The Golf for the Disabled (G4D) Tour is an event run between the European Disabled Golf Association and the DP World Tour, which promotes inclusivity in golf and is also campaigning for golf to become a paralympic sport.

The G4D Tour will take place at Ballyneety Golf Club during Ryder Cup week.