ESB goes green in €22bn spend on renewable energy

[green]

http://www.breakingnews.ie/ireland/mhojeyidsnsn/

The ESB has this evening announced that it is to embark on an unprecedented capital investment programme of €22bn.

The board of the company has approved a Strategic Framework to 2020 that will see major 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 a 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 times, are they a-becoming quite different?

ETA: Meant to stick this in the Environment forum. Whoops.

[irishpeoplearewhingers]

A triumph for us all.

[spalpeen]

Pardon my ignorance but where is this 22 Billion to come from ??
The goal is to be commended.. the means...well from where is this 22 billion to come?

[corelli]

Annutio vobis, gaudium magnam!!

[EoinMn]

Excellent news.
Though I'd like to point out that, as the article says, not the full 22bn will be on renewable energy.
€4bn is earmarked for renewable energy and €6.5 on smart networks and smart metering.
Presumably that leaves €11.5bn to be spent on "brown" technology.

[theyshootPDsdontthey]

Who exactly will supply the power in this case, big operators or will micro producers be able to take advantage?

[David Cochrane]

Don't see why this was posted under 'Green Party' moving it to Environment.

[EoinMn]

Who exactly will supply the power in this case, big operators or will micro producers be able to take advantage?

Hopefully the investment in "smart networks" will mean that any micro generators will be able to feed energy into the grid.

[ballot stuffer]

Who exactly will supply the power in this case, big operators or will micro producers be able to take advantage?

Hopefully the investment in "smart networks" will mean that any micro generators will be able to feed energy into the grid.

I'm not sold on micro generators. Economies of scale applies to power generation as well. There is a huge waste of resources deploying smaller generators rather than one larger station.

Very good documentary on TG4 last night about Gazprom and how its actions are impacting on European Energy security. It explained the dangers facing the EU very well. It is good to know that the ESB now have an over-arching policy ot deal with this. I do not know how much influence Eamonn Ryan had but I would say it was a good deal considering that the ESB have admitted that this task is a good deal outside their comfort zone. It is the kind of action that needs to be taken and should be welcomed by all. Let's hope that the ESB can deploy the high levels of skill, ability and innovation that we were able to expect of it in the past.