I cannot see the Minister of State but I know he is there. I will start by mentioning a development that occurred this evening. I am pleased to report that Fingal County Council, my local authority, voted for 1,200 houses in Donabate. Rather shockingly, although unsurprisingly, Sinn Féin opposed it. The development will provide for more than 500 social and affordable homes and 700 private homes. They will be available soon at a price of €270,000, far under the cap that will be placed on it by the Government.
I raise the important issue of the quicker than expected growth in renewable energy across Europe. Information released recently by the International Energy Agency, IEA, has shown a significant uptake in renewable energy production. This includes, of course, solar, wind and other renewables, which are growing at the fastest rate in more than 20 years. Much of that change is being driven in Europe and the US. However, China, while being a strong performer in this field several years ago, is beginning to drop off. That is slightly worrying. It underscores the importance of creating balanced progress across the globe and not just in industrialised and wealthy nations such as our own.
Renewable energy grew by 45% in 2020, reaching 280 GW, which I understand is in excess of half of our national requirement in any given year. It is the largest yearly increase since before the turn of the millennium. The IEA earlier forecast the number to be approximately 200 GW. It is anticipated that 270 GW will be added in 2021 and 280 GW will be added in 2022. This marks the emergence of an important trend in sustained growth. The anticipated results for 2021 and 2022 represent a 25% increase on the forecast made last November by the agency.
This afternoon at a meeting of the Oireachtas Joint Committee on Climate Action, we heard from the Electricity Association of Ireland. Part of our ongoing discussion was about energy security and the need for us to move away from fossil fuels, including the closure of Moneypoint power station in 2025, and the need for us to ensure we have the capacity in this State to deliver not only wind and solar energy, but also to deliver through interconnectors, which form a crucial part of that security of electricity supply. That applies to the North-South and east-west interconnectors, and the Celtic interconnector to France, which is slated for delivery in seven years.
These developments are a cause for optimism in our fight against climate change. Renewable electricity is a key component in helping us to hit our climate targets for 2030 and 2050. The Minister of State will welcome the announcement by the IEA in recent weeks. We have a number of targets to try to reach in the coming years in terms of policy development, incentivising the various sectors that are going to generate clean, zero emissions energy sources in the coming years to ensure that we have the necessary power. Our population is ever increasing, as is our energy demand. Our carbon footprint as a result of our energy generation must drop dramatically, as I know the Minister of State will agree. I thank him for taking this Topical Issue matter. I appreciate the Minister, Deputy Eamon Ryan, was on his feet in the Dáil all day, so I understand his not being available. We have a huge target ahead of us. That target will only be reached if we can match it with the ambition that we, as a House, set forward. I am interested to hear the Minister of State's remarks.