Irish business must invest in renewables

Irish businesses have been told that they need to invest at least €6 billion into the wind energy industry if the country is to meet its renewable resources targets.

This week, the Irish Wind Energy Association (IWEA) launched guidelines detailing best practice for on-shore wind farms in Ireland.

Speaking at the launch, the group’s chief executive, Michael Walsh, praised Irish industry for the €1 billion that has already been invested in wind energy.

However, Walsh added that if Ireland is to meet its target of producing 33% of its energy from renewable sources by 2020, then between €4 billion and €6 billion will need to be invested over the next decade.

This equates to an annual investment of €500 million, and will lead to 3,000 new jobs.

The Irish minister for Communications, Energy and Natural Resources, Eamon Ryan, believes that Ireland will do even better than the targets.

Also speaking at the launch of the guidelines, Ryan cited a recent study stating that it is technically feasible for 42% of Ireland’s energy to be produced from renewable sources by 2020.