Dr. Fergus Sharkey:

Mr. Meally is referring to our large industry energy network. We also have capital grants aimed at the electrification of heat in industry. In the past two or three years, this has become a significant big hitter. We see a huge cohort of those that are planning or actively making investments or have made investments in heat pumps or direct electrification of heat with electric boilers. We are also seeing biomass being deployed by those large energy users. We have decades of experience where they are at the forefront of energy efficiency, so we are optimising their processes. We support that through the EXEED grant scheme. This enables companies to deep dive into their processes and reconfigure their manufacturing process to design energy out from the get-go. This has been very successful for a number of large energy users. Onsite renewable generation is another area. There had been a cohort that installed wind turbines, like the well known example of the Cork lower harbour group. We are now seeing a big expansion of solar in these large industries. Some of them are installing solar farms adjacent to their site, reducing their overall electricity emissions to almost zero. They are also producing electricity off-site through corporate power purchase agreements, PPA, where a wind farm is built and they are utilising that electricity via the electricity networks on site. There is a huge amount of activity going on. Big strides are being made. As Mr. Meally mentioned, large corporates have a lot of pressure from their shareholders, boards and financing agencies. They do not want to invest in something that is locked into fossil fuel usage and therefore, potentially creates a future risk for the investment. There is a huge amount of activity and we are there supporting them on the planning, funding and delivery aspects.