Project Ireland 2040 sets out investments to provide for population growth in a compact, connected and sustainable way. It will deliver important infrastructures and contribute to meeting our climate ambitions as set out in the recently launched Climate Action Plan. Exchequer funding of €7.6 billion, together with investment of €13.7 billion by commercial State bodies will ensure a step change in strategic climate change investments in the areas of transport, agriculture, energy and the built environment over the next decade.
As part of the transition to a low-carbon and climate-resilient society, €14.2 Billion has been allocated under the National Development Plan 2018 - 2027. Of this, €500 million has been allocated to the Climate Action Fund. In excess of €13 Billion will come from Commercial State owned enterprises under my Department's aegis and will also play a crucial role in climate action initiatives.
Major investment projects by inter alia, ESB, EirGrid, and Bord na Mona will include the following areas:
Enhanced electricity interconnection, including the Celtic Interconnector to France and further interconnection to the UK,
Conversion of Moneypoint electricity generation plant to end the burning of coal by 2025.
Expansion of refuelling network for alternately fuelled vehicles to address freight emissions,
Conversion of peat power plants to more sustainable low-carbon technologies by 2030,
Roll-out of the National Smart Energy Metering programme to commence in 2019,
Development of gas infrastructure projects to support regional and rural development and the low-carbon transition, and
On-going reinforcement of the existing power grid.