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Gas & Electricity

Energia to invest €3bn in renewable energy over 5 years

Conor Dever

Conor Dever

Staff Writer

The investment should bring the numbers employed by Energia up to 1,000.

On the back of unfavourable election results, the Government recently released its Climate Action Plan as voters waited with baited breath to see what the plans would be to tackle what many believe to be an existential crisis for the planet. 

The plan, though flawed, set out some really lofty ambitions, not least of which was increasing the amount of electricity in Ireland that's generated from renewables from 30% to 70% by 2030, just 11 years away. 

Enter stage left Energia.

The supplier, which already supplies the country with 1,200MW of electricity, said this week it plans to ramp up supply by adding an additional 1,500MW of renewable energy to the national grid over the coming years. That's enough to power around 750,000 homes!

Renewables

Energia, which is owned by US investor I Squared Capital, is focusing on renewables with huge investment in on-land and offshore wind farms as well as solar solutions and bio energy facilities. 

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Energia currently employs 800 staff and promises the further investment will bring this total to over 1,000 jobs here in the Republic. There will also be an estimated 3,000 to 5,000 construction workers involved in the five-year programme.

A welcome development

Minister for Communications, Climate Action and Environment Richard Bruton said: "We are committing to generating 70% of our electricity from renewable sources by 2030 under the Climate Action Plan.

"Decarbonising our electricity supply is crucial to all the changes we are making as we make the transition away from fossil fuels. The move to electric vehicles for example, will only be effective if the electricity being used has been generated from renewable sources."

"This investment by Energia, will boost Ireland's capacity, with over €3 billion being invested in onshore and offshore wind, solar, hydrogen fuel generation and bio-energy facilities."

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