Article

U.K. says further work needed on Ireland Renewable Power Pact

U.K. Energy Secretary Ed Davey said more work is needed to conclude a renewable-power trading pact with Ireland after prime ministers of the two nations met.

U.K. Energy Secretary Ed Davey said more work is needed to conclude a renewable-power trading pact with Ireland after prime ministers of the two nations met.

An agreement would be the first of its kind in Europe, “delivering greater security of supply, developing renewable energy infrastructure and increasing integration of electricity markets,” Davey said today in an e-mailed statement. “We will continue to work closely on the possibility.”

Davey and his Irish counterpart Pat Rabbitte in January 2013 said they would work toward an agreement “in a year’s time” to enable Irish renewable generators to sell to the U.K., creating an export industry for Ireland and helping Britain meet its binding European Union clean-energy targets.

The delay in a deal may slow billions of euros of investment in wind farms in Ireland, where Mainstream Renewable Power Ltd., Bord Na Mona Plc and Element Power plan to develop 10 gigawatts of wind projects provided they can sell electricity to the U.K. and mainland Europe.

Element, set up in 2008 by Teaneck, New Jersey-based Hudson Clean Energy Partners, a private equity company, is planning an 8 billion-euro ($11 billion)... more [truncated due to possible copyright]  

U.K. Energy Secretary Ed Davey said more work is needed to conclude a renewable-power trading pact with Ireland after prime ministers of the two nations met.

An agreement would be the first of its kind in Europe, “delivering greater security of supply, developing renewable energy infrastructure and increasing integration of electricity markets,” Davey said today in an e-mailed statement. “We will continue to work closely on the possibility.”

Davey and his Irish counterpart Pat Rabbitte in January 2013 said they would work toward an agreement “in a year’s time” to enable Irish renewable generators to sell to the U.K., creating an export industry for Ireland and helping Britain meet its binding European Union clean-energy targets.

The delay in a deal may slow billions of euros of investment in wind farms in Ireland, where Mainstream Renewable Power Ltd., Bord Na Mona Plc and Element Power plan to develop 10 gigawatts of wind projects provided they can sell electricity to the U.K. and mainland Europe.

Element, set up in 2008 by Teaneck, New Jersey-based Hudson Clean Energy Partners, a private equity company, is planning an 8 billion-euro ($11 billion) 3-gigawatt onshore wind project called Greenwire, which it intended to connect to the U.K. grid by 2018. Assuming similar costs, Mainstream’s planned 5-gigawatt Energy Bridge project, and Bord Na Mona’s 2-gigawatts of plans would bring spending to more than 26 billion euros.

Rabbitte said last week that the power-export plan isn’t likely to go ahead before the end of the decade, citing the time needed for U.K. authorities to design policies and regulations, the Irish Times reported on Mar. 7


Source: http://www.businessweek.com...

MAR 12 2014
https://www.windaction.org/posts/40024-u-k-says-further-work-needed-on-ireland-renewable-power-pact
back to top