Dáil Éireann Debate, Tuesday - 22 November 2022
170. Deputy Robert Troy asked the Minister for the Environment, Climate and Communications the amount of the €300 billion approved by the European Union to accelerate the green transition that will be available to Ireland; if it is a competitive process; and if his Department has identified projects which could avail of this fund. [57259/22]
Amharc ar fhreagraThe European Commission published the RePowerEU plan in May. This is a plan to rapidly reduce dependence on Russian fossil fuels and accelerate the green transition. While the Commission announced an overall package of €300bn, the plan proposes the provision of an additional €20 billion in grant funding to be made available through the existing Recovery and Resilience Facility to finance investment in diversifying the energy mix of EU Member States. Further funding is available primarily through additional loans under the Recovery and Resilience Facility. In October, EU Finance Ministers reached agreement at ECOFIN on the Council’s position on the RePowerEU proposal, including the allocation of grant funding among EU Member States. Ireland would be able to apply for additional grants worth circa €90m under the proposed methodology.
The Council agreement allows negotiations to commence with the European Parliament, with the European legislation necessary to provide for such funding not expected to come into force until early 2023.
At that point, Ireland can choose to update its National Recovery and Resilience Plan to include a RePowerEU chapter and projects eligible for any additional grant funding that may be available, taking account of Commission guidance due to be published next year.
In the interim, my Department is considering potential proposals for funding under this mechanism with the Departments of Public Expenditure and Reform and Finance. Similar to the development of Ireland's current National Recovery and Resilience Plan, funding decisions are a matter for Government.
I would note that Ireland’s current National Recovery and Resilience Plan, supported by circa €915m in grants, was approved by the European Commission and the Council in 2021, and is currently being implemented. The objective of the plan is to contribute to a sustainable, equitable, green and digital recovery effort, in a manner that complements and supports the Government’s broader recovery efforts.
