Ireland: ESB Announces Strategic Clean Energy Effort

March 28th, 2008

Mmm hmm.

Via: Electricity Supply Board:

ESB has today announced that the company is to embark on an unprecedented capital investment programme of €22 billion.

The Board of ESB has approved a Strategic Framework to 2020 that will see major company investment in renewable energy, the halving of its carbon emissions within 12 years, and the achievement of carbon net-zero by 2035. Fifty percent of the overall investment package is geared towards investments in our renewable future. €4bn of this will be directly invested in renewable energy projects and €6.5bn will be spent facilitating renewables including smart metering and smart networks.

The plan, which will establish ESB as a world class renewables company, makes emissions reduction and energy efficiency central to its ambitious targets.

By 2020, ESB 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. To promote this, the company will invest in emerging green technologies.

The €11 billion to be invested by ESB in its Networks will ensure continued efficient delivery of the vital infrastructure needed to support the Irish economy. It will also facilitate the development of up to 6,000 megawatts of wind on the island.

Research Credit: DG

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