Eighty Two new renewable energy projects are set to go ahead after the government approved the results of the first Renewable Electricity Support Scheme (RESS) auction. Minister for Communications, Climate Action and Environment, Eamon Ryan TD today (11 September 2020), announced the final results of the auction which includes solar, wind and community energy projects.
Speaking at the announcement today (Friday 11 September), Minister Ryan said: I am delighted to welcome the final results of the first auction under the new Renewable Electricity Support Scheme. The first RESS auction provides us with a platform for rapid deployment of onshore wind and solar projects at scale and at least cost, replacing fossil fuels on our energy grid. The results are very competitive and represent a significant saving on previous support schemes.
Speaking after the initial RESS auction results, Enerpower Managing Director, Owen Power said “this shows that as a community we are working together to reduce our dependence on fossil fuels. Enerpower have seen a large increase in companies making the change to solar pv and renewable energy. The results of the RESS auction will help homes and businesses reduce their energy costs and ensure we are using green energy to power our homes and businesses.”
RESS 1 is the first Renewable Electricity Support Scheme by the Government of Ireland and is a pivotal component of the Government’s Climate Action Plan. This RESS scheme will support an investment in Ireland of over €1.4billion and support the recovery by creating roughly 1,000 jobs. The average weighted bid price for the technology neutral auction was €74.08 per MWh. This represents significant savings on previous schemes. Unlike previous schemes, renewable generators will be required to pay back to electricity customers when market prices are high, the bid prices are also fixed over the lifetime of the support and no payments will be made during negative market price periods. The combination of these factors means better value for the electricity customer.
Further information on these projects can be found on the Government website by clicking here.
If you are interested in learning more about renewable energy for your business you can call a member of the Enerpower team on 051 364 054.
*Source: https://www.gov.ie/en/press-release/08388-solar-wind-and-community-energy-projects-set-to-deliver-14bn-in-investment-and-1000-jobs-after-government-approves-renewable-energy-auction-results/
*Source: http://www.eirgridgroup.com/site-files/library/EirGrid/RESS-1-Final-Auction-Results-(R1FAR).pdf
