Andras Gergely

Ireland’s Electricity Supply Board (ESB) on Thursday announced an investment programme of 22 billion euros ($34.72 billion), half of which it plans to spend on renewable energy sources such as wind, tidal and biomass

DUBLIN/ UK; March 29, 2008.- The state-owned company aims to halve its carbon emissions within 12 years, by which time it will be delivering one-third of its electricity from renewable generation.

“This will include over 1,400 megawatts of wind generation, in addition to wave, tidal and biomass,” it said, adding that it aims to achieve “carbon net-zero” by 2035, also using carbon capture and offsets.

Ireland, where the Green Party holds the environment ministry, has launched government-backed schemes to develop wind power in a bid to boost renewable energy and cut the share of fossil fuels, of which Ireland imports nearly 90 percent.

Chief Executive Padraig McManus said ESB will stop using oil stations, but keep burning natural gas and increase the use of coal using new clean technology that allows capturing the carbon dioxide emitted.

“We’re not talking about not burning fossil fuels, we’re talking about managing the carbon output from that,” McManus told a news conference.

ESB will invest 4 billion euros directly in renewable energy projects and 6.5 billion euros to support renewables by measures such as network development, smart meters and fast-response gas turbines to back up wind generators whose output is volatile.

“With the development of a single British-Irish electricity market by 2020, ESB’s international profile will continue to expand,” it said. “The company will invest in more generation plants and renewables in Britain and further plants in Europe.”

European Union countries agreed last year to cut emissions contributing to global warming by 2020 and increase the share of wind, solar, hydro and wave power in electricity output by the same date.

Aside from cutting emissions by at least one-fifth by 2020 from 1990 levels, EU states have agreed to use 20 percent of renewable energy sources in power production and 10 percent of biofuels from crops in transport by the same date.

Ireland set itself a target of obtaining a third of electricity from renewable sources by 2020.

(Reuters)

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