Strategy For Renewable Energy: 2012-2020
29 May 2012
On 28 May, Minister for Communications, Energy and Natural Resources, Mr. Pat Rabbitte, TD, launched the Irish Government’s Strategy for Renewable Energy: 2012 to 2020. In doing so, Minister Rabbitte noted that "Ireland could export as much renewable energy as we consume ourselves".
Noting the scale of Ireland’s wind resources, he noted that in the medium term Ireland could actually export wind energy “on a scale that matches the total electricity consumption of the country", while also commenting on the significant increase in demand for carbon free energy that will come from the wider European market in the coming years. In particular, the Minister went on to say that "our coastal location gives us a real advantage in having natural resources of real scale and significance. Alongside moves to join together European energy markets, this will give us access to much bigger electricity markets in years to come".
The new Government policy document covers Ireland's renewable energy policy up to 2020. It contains 36 actions for the country to maximise the economic potential of renewable sources, including the increase of both onshore and offshore wind farm developments, encouraging research and development in wave and tidal power, rolling out smart energy networks and building a sustainable bioenergy sector.
Mason Hayes & Curran's Energy Group regularly advises State authorities, market leading developers and domestic and international financial institutions lending into this industry sector. We advised the Commission for Energy Regulation and Northern Ireland Authority for Utility Regulation in respect of the drafting and development of the all-island Single Electricity Market Trading and Settlement Code as well as advising in some capacity in relation to approximately 500MW of renewable energy projects with a combined value of approximately €600,000,000.
Mason Hayes & Curran's Energy Group has been recognised by Infrastructure Journal as one of the top 10 European legal advisors in wind energy and in the top 20 legal advisors for renewable energy finance projects, based on past transactions. This reflects Mason Hayes & Curran's position as a market leader in the Irish renewable energy sector.
The Government’s Strategy paper is available from the DCENR website here.