RenewableNI, the voice of Northern Ireland’s renewable electricity industry, has hailed the new Renewable Energy Price Guarantee published by the Department for the Economy (DfE) as the much-needed key to unlock investment in renewables, leading to millions of pounds of private investment in Northern Ireland and delivering affordable electricity for NI consumers.
The initiative provides long-term price certainty for operators of wind farms and solar farms adopting a Contract for Difference type structure that includes a range of eligible technologies.
Contracts would set a fixed price for 15 years, providing stability for generators and consumers. Similar schemes are already in place in Great Britain and Ireland and have proven to support significant new generation coming online. As well as encouraging economic growth, it will help achieve energy security and will support the shift away from fossil fuels towards a fully decarbonised power system.
Only five new wind farms, totalling 110MW, have been connected over the past five years, compared to 400MW in 2016 under the previous support scheme. An additional 2-2,500MW needs to be connected to achieve the 80 per cent by 2030 legal obligation and so this announcement is a very welcome boost to support delivery on this ambition.
Welcoming the scheme publication Tamasin Fraser, Chair of RenewableNI, said: “This announcement from the Department for the Economy will create jobs across Northern Ireland and help attract investment throughout the region.
“It is one of, if not the, most directly beneficial actions the Executive has taken to power economic growth here, particularly in rural areas.
“Northern Ireland needs a local, secure electricity supply that removes our vulnerability to global fossil fuel prices that we have no control over—especially when we have the resources we need to become self-sustaining and to protect consumers.
“Sustainable and predictable energy prices are top priorities for employers and investors across the world, and increasing our ability to produce electricity from renewables helps us offer those advantages and become a more attractive place to do business.
“Locally, every wind farm and solar built creates community benefit funding and farm diversification opportunities for landowners, alongside business rates for councils and Stormont.
Tamasin emphasised RenewableNI’s focus on delivery: “Ambition must now be matched by delivery and there can be no delay in the implementation of the REPG. Progressing the legislation required to hold the first auction in Q1 2027 is critical if we are to realise the benefit of the announcement.
“Barriers remain when it comes to achieving the legislative target of at least 80 per cent renewable electricity consumption in Northern Ireland by 2030 as set out in the Climate Change Act.
“Issues such as grid constraints, planning system delays and the lack of a policy framework for long duration energy storage also need to be urgently addressed as well as support for small projects which can make a mighty difference to our green economy.
“We are keen to support the Department and work with everyone involved to ensure there is a clear, timely implementation plan that includes support for these enabling factors.
“At RenewableNI, we are focused on working with the Department to make sure the Renewable Electricity Price Guarantee is implemented without delay, so the local economy and energy consumers across Northern Ireland can see the benefits.”
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