Ireland’s race against time to avoid €360m EU renewables fine
This year will be a defining one for the energy sector – and the threat of hefty fines for missing EU targets has focused minds, writes Simon Rowe
With the Government in a race against time to avoid a potential €360m fine from the EU for failing to hit renewables targets, 2017 looks set to be a defining year for the country’s energy sector.
If Ireland fails to meet a binding target of generating 16pc of energy from wind, solar, biomass and other renewable sources within three years, a penalty of up to €120m will be imposed by the EU for every 1pc the State falls below target.
The clock is ticking down to the 2020 deadline and Minister for Climate Action Denis Naughten is under pressure to implement policies to help avoid or reduce the potential bill facing Irish taxpayers.
Ireland is only halfway towards meeting its targets, with just 8.6pc of energy consumption derived from renewables.
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