Green energy projects due to begin supplying electricity by the end of this year will not meet that deadline as rising costs mean they are no longer viable, industry figures say.
Contracts awarded in the 2020 Renewable Energy Support Scheme auction pay €74.08 a mega watt hour for electricity, but inflation has added up to 40 per cent to the cost of building these generators.Irish start-up aims to end drain of ‘talented women giving up their careers every day because of fertility issues’
“But that does not mean that they will not go ahead at all,” he said. Mr Cunniffe explained that some developers got alternative electricity supply deals with individual business customers at prices that will allow them to build their wind farms. Contracts awarded in 2020 could have supplied around 500,000 homes with electricity had they all proceeded. However, between wind and solar, projects capable of supplying more than 100,000 homes will not go ahead.
Eamon Ryan, Minister for the Environment, Climate and Communications has said RESS auctions are key to achieving the Government’s Climate Action Plan target of generating 80 per cent of electricity from renewables by 2030.