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A New Chapter in Irish Renewables: Ireland’s Green Energy Auction Results

Green vitality public sale outcomes (RESS 1)

4 August 2020 marked one other important step ahead for the brand new Irish authorities in implementing insurance policies designed to remodel the nationwide energy system in direction of a greener and extra sustainable future. On that day, EirGrid (the state-owned firm that manages and operates Ireland’s all-island transmission grid) revealed the eagerly awaited provisional outcomes for the Renewable Electricity Support Scheme 1 (RESS 1) public sale course of, simply two weeks after the scheme was permitted by the European Commission below the EU state assist guidelines.

This government-backed, inexperienced energy public sale is the primary of a quantity which might be as a consequence of be held over the approaching years and kinds a central half in attaining Ireland’s nationwide purpose of shifting away from fossil fuels and reaching a 70% share of renewables in its electrical energy combine by 2030, in addition to its longer-term goal of carbon neutrality by 2050. The background to those targets, and the RESS auctions, could be discovered in key coverage paperwork such because the Government’s Climate Action Plan (2019) and the lately revealed Programme for Government (2020).

Wind farms (x19) and solar energy tasks (x63)

Results for RESS 1 present that photo voltaic and onshore wind tasks with a mixed capability of 1,275.5 MW have been declared provisionally profitable in Ireland’s first tender for renewable vitality capability. The tasks to be awarded contracts embody 19 new wind farms and 63 new solar energy tasks. RESS takes the type of a two-way contract for distinction. Average strike costs set by the public sale have been €74.08/MWh for all tasks, €72.92/MWh for photo voltaic tasks and €104.15/MWh for neighborhood tasks. As the public sale was run on a pay-as-bid foundation, there could possibly be a variety of costs for profitable tasks.  

Approved schemes vary in capability from greater than 100 MW to lower than 1 MW, and measurement from 20 acres as much as practically 400 acres. They are positioned predominantly in the south and east of the nation. For tasks awarded contracts in the RESS 1 public sale, the help usually applies for about 15 years. At current, these RESS auctions have an estimated whole finances of as much as €12.5 billion by till 2025.

Uptake in photo voltaic

Interestingly, as could be seen in the map under, photo voltaic tasks accounted for the biggest variety of purposes and awards at RESS 1. Of the 75% of candidates who succeeded in gaining provisional approval on the public sale course of, 77% of those have been photo voltaic tasks. This is a major however not shocking improvement because the earlier decade was dominated by improvement of onshore wind tasks in Ireland with little to no funding in photo voltaic or another type of renewables. While there may be nonetheless room for added funding in the marketplace for onshore wind in Ireland, we anticipate purposes for photo voltaic tasks to be a extra frequent function of RESS auctions going ahead.

What subsequent?

The provisional public sale outcomes are pending authorities approval in accordance with the reserved rights of the Minister for Communication, Climate Action and Environment as set out in Section 10 of the RESS 1 Terms and Conditions. Participants had the chance to file a Notice of Dissatisfaction by 6 August 2020 and the ultimate outcomes might be introduced on 10 September 2020, with the awards to be made on 25 September 2020. All in all, the success of this inaugural inexperienced vitality public sale is a optimistic signal of what’s but to return for the renewable vitality sector in Ireland.

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