Oireachtas Joint and Select Committees

Wednesday, 2 October 2019

Joint Oireachtas Committee on Climate Action

Citizen and Community Measures: Discussion

Mr. Paul Kenny:

It is in the high level design. However, if one takes the large Bord na Móna one in Oweninny that was mentioned or a very large Coillte one, it might be a €200 million project, and 20% of that is €40 million. If the local community wishes to be a €40 million shareholder it will have to leverage, which means it must have asset ownership. The renewable electricity support scheme does not enshrine asset ownership. If one does not have asset ownership one cannot borrow, if one cannot borrow one cannot leverage and if one cannot leverage the 20% is unachievable. It is only achievable if it is split ownership, which requires a number of things to change, including the grid code. What we will see is the large wind farms with 2%, 1% or 0.5%, perhaps, because that is the equity ownership the local communities can deliver. It is important that there is a change there.

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