The next government must tackle planning delays and other challenges to guarantee energy security and hit climate targets, a leading multinational warns.
Norwegian giant Statkraft, which plans to invest billions of euro in the Republic, will publish a survey on Friday showing that three out of four Irish people want to see the Government speed up renewable electricity development.
With growing public support, the company warns that the next government, likely to be formed in the coming weeks, must prioritise investment in the State’s planning authorities, national grid and energy bodies, to accelerate the construction of green energy.
Kevin O’Donovan, Statkraft’s managing director for Ireland and the UK, pointed out that while the State had clear policies on renewables development, building badly needed infrastructure here “remains incredibly challenging”.
He urged all sides in the current talks on government formation to set out clear goals for dealing with challenges faced by the electricity network and delays in the planning process.
“Essential grid infrastructure needs to be at the heart of the next programme for government,” he said.
[ Regulatory delays can push electricity prices up 10%, says ESRIOpens in new window ]
“The next five years are absolutely critical for Ireland if we are to have any hope of becoming completely energy-secure, which means the next government must be a government of implementation.”
Three out of four Irish people support this, Mr O’Donovan noted, adding that this reflects what his company hears when it deals with communities around the State.
“The policy is in place, the technology is developed and the investment is ready. All that remains is for much greater speed of delivery and implementation,” he declared.
[ Wholesale electricity prices rise 19% in 12 monthsOpens in new window ]
Most people that Statkraft surveyed said they believed green electricity was better for the environment and would help cut their energy bills.
The study found that 74 per cent of consumers want to see an increased emphasis on the rollout of renewable energy.
Statkraft maintains that this will ultimately provide cheaper energy and cut the country’s dependence on imported fossil fuels.
However, just 43 per cent of people quizzed by the company believe that the State will have the required infrastructure ready to be fully renewable by 2050, while fewer than half believe that it will meet 2030 targets.
Those include producing 80 per cent of all electricity used here from renewables and building enough offshore wind farms to generate 5,000 mega watts (MW) of electricity, which is almost the equivalent of peak demand in the Republic.
Statkraft is investing in offshore and onshore wind farms in the Republic, along with solar power and electricity grid services. The company has been here since 2018.
[ Wind farms generate more than a quarter of Ireland’s electricity in NovemberOpens in new window ]
State-owned national electricity grid operator Eirgrid plans to spend €3 billion over the years to 2030 on boosting the system that transmits electricity from all power plants to the networks that ultimately deliver it to homes and businesses.
That includes work that will facilitate renewable electricity, including offshore wind farms planned for the Irish Sea, by Statkraft among others, and off the west and south coasts.
Along with key projects such as the north-south interconnector and boosting the high-capacity lines that run from the mid-west to Dublin, the company intends adding to and bolstering its networks around the State.
Industry groups, including Wind Energy Ireland, regularly warn that delays in the planning system are hampering efforts to build new green energy plants.
The outgoing government this year published a plan to tackle a shortage of planning staff in local authorities to take on the housing crisis and other challenges.
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
