Dáil Éireann debate -
Thursday, 24 Oct 1996

Vol. 470 No. 6

Written Answers. - Renewable Energy Conference.

Noel Treacy

Question:

19 Mr. N. Treacy asked the Minister for Transport, Energy and Communications if he will give details of the agreements reached at the Conference on Financing Opportunities for Renewable Energy Development at Dublin Castle on 25 September 1996; the advantages, if any, accruing to Ireland as a result of this conference; the amount of money being made available for renewable development in Ireland in each of the years from 1997 to 2000 and beyond; and if he will make a statement on the matter. [16889/96]

Minister of State at the Department of Transport, Energy and Communications (Mr. Stagg)

This conference brought together, for the first time, renewable energy developers, financiers and policy makers to investigate the commercial opportunities associated with renewable energy development in Ireland. The conference allowed for information exchange on available finance options and facilitated a better understanding, by the banking sector, of the needs of developers. An evaluation exercise has been undertaken by the Renewable Energy Information Office to assess the impact of the conference and the results confirm the success of the event.

Under the Economic Infrastructure Operational Programme which runs up to the end of 1999, a total of £15 million in European Regional Development Fund funding is available for the development of renewable energy. The Deputy may be aware of the AER 2 competition which I launched in December 1995. This competition will result in the construction of a biomass/waste fuelled electricity generating plant of up to 30MW electrical output. I have allocated a sum of £7.5 million in European Regional Development Fund aid to support this project. The actual sum paid to the developer will depend on the size of the winning plant.

With the aim of developing the necessary support framework for renewable energy development, I launchedRenewable Energy— A Strategy for the Future earlier this year. In addition to the AER 2 grant fund, I have allocated £7.5 million for project support up to the end of 1999. A total of £6.5 million of this will be paid to developers on the basis of £65,000 per MW installed for wind energy, hydro, biomass and waste-to-energy technologies. In addition, I have earmarked, subject to EU approval, a sum of £1 million for the construction of a wave to energy pilot project.

I have also allocated £200,000 over the period of the operational programme for the renewable energy feasibility study grant scheme. This is designed to support studies which investigate the viability of harnessing renewable energy resources. The scheme is administered by the Renewable Energy Information Office and will pay up to 50 per cent of the cost of studies up to a maximum of £6,000 per study.

My renewable energy strategy guarantees electricity market access for successful renewable energy Thermie projects. This initiative has substantially increased available support for renewables. The EU Commission has welcomed my initiative and under the 1995 Thermie call, four Irish renewable energy projects have secured, between them, grant support of £2 million. The actual capital investment value created by this support is over £5 million.