NewERA Administration

Tuesday, 26 September 2017

Ceisteanna (65)

Richard Boyd Barrett

Ceist:

65. Deputy Richard Boyd Barrett asked the Minister for Finance the amount NewERA has transferred to Coillte and Bord na Móna in respect of developing alternative energy and other new industry; the criteria which has been applied to a cost-benefit analysis of value for the use of this public funding; the amount of NewEra funding which has come from the National Pension Reserve Fund; the other sources of funding it has availed of; the person or body in charge of NewEra; the person or body overseeing its operations, that is, Minister and Department; and if he will make a statement on the matter. [40376/17]

Amharc ar fhreagra

Freagraí scríofa

Minister for Finance

The NTMA, which is a body under my aegis, acts as NewERA (New Economy and Recovery Authority) in providing centralised financial and commercial advisory services and as a dedicated source of corporate finance advice to Government Ministers with respect to the following designated bodies: ESB, Ervia, Irish Water, EirGrid, Bord na Móna, and Coillte.

On request by a Government Minister, NewERA also provides financial and commercial advisory services in relation to other State bodies or assets.

In addition, NewERA works with relevant stakeholders to develop proposals for investment in energy, telecommunications, water and forestry to support economic activity and employment. Ms. Eileen Fitzpatrick is the NTMA Director in charge of NewERA.

NewERA does not provide funding to the State Bodies or assets that it engages with such as Coillte or Bord na Mona.

More information on NewERA’s activities is available in the NewERA section of the NTMA’s latest Annual Report at the following link:

http://www.ntma.ie/annualreport2016/index.html

I can also inform the Deputy that neither the old National Pensions Reserve Fund (NPRF) nor its successor the Ireland Strategic Investment Fund (ISIF) have provided funding to either Coillte or Bord na Móna.