“A very stable political landscape” in Ireland has facilitated long-term planning for investors and developers in the country’s renewable energy market.
This is the view of David Maguire, CEO of the BNRG Group, an independent energy producer (IPP) headquartered in Dublin, who spoke to PV Tech Premium this week on Ireland’s renewable investment landscape.
“We have a very stable political landscape, which means we have consistently stable policies that play out very predictably [and] organically,” Maguire explained, pointing to a cross-party consensus on the importance of the energy transition that has only furthered this sense of security. “We are not getting radical shifts in policy, whether it is the opposition or the incumbent; all political parties agree on a number of aspects to ensure that there is a robust regulatory framework.”
This certainty, and the growth it could facilitate in the future, is significant given that Ireland does not have the largest operational solar portfolio in Europe. The country surpassed 1 GW of grid-scale solar energy last monthwhich compares to almost 10 GW of such capacity in Britain, but Maguire said the country’s relatively nascent solar industry has given it a “late-mover advantage”, by allowing Irish developers, investors and policymakers to learn from other industries.
“Ireland being late to solar means we have had a late-mover advantage, with the policies that have been implemented drawing on best practice from elsewhere in the EU member states and Britain, so that is positive,” he said.
Read the full interview, including a discussion about the role of battery energy storage systems (BESS) in the Irish market and whether Maguire thinks there is a role for both government auctions and corporate power purchase agreements (PPAs) in the Irish finance space, on PV Tech Premium.
Maguire will speak this month Summit on Procurement and Revenue from Renewable Energy Sourceswhich will be held in London from May 20 to 21. Organized by PV Tech publisher Solar Media, the event will cover PPA design, tackling high energy prices and more; for more information, including the full agenda and ticket options, visit the event website.
