This Government is implementing a dynamic and progressive alternative energy policy, as evidenced by the four major initiatives pursued to date in this area. There are two competitions currently under way in relation to the development of alternative energy sources. The AER III competition conducted by an independent agency, ETSU, aims to secure an additional 100 megawatts of electricity generating capacity from renewable energy sources, wind, hydro, waste, biomass and wave. The closing date for receipt of commercial bids for the competition was 13 February 1998. I expect to be in a position to announce the results before Easter.
The AER IV competition, which I launched on 22 September 1997, aims to secure an additional 25 megawatts of newly installed electricity generating capacity from high efficiency combined heat and power systems. Furthermore, it will seek to secure up to ten megawatts of electricity generating capacity from existing similar systems. The AER IV competition closed for technical bids on Friday, 23 January 1998.
Additionally, the guaranteed electricity market access for Irish renewable energy projects successful in securing THERMIE grants has been continued for the 1998 round. It has also been broadened to include combined heat and power projects. For successful biomass projects, a special enhanced tariff structure has been negotiated.
The Finance Bill, 1998, makes provision for tax reliefs for investment in renewable energy projects using windpower, hydropower, biomass and solar technologies. This pilot tax relief initiative is further evidence of the strong commitment of Government to promote alternative energy projects.