Michelle Mulherin (Fine Gael)
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Mr. Nolan raised an interesting point, which is our attractiveness to foreign direct investment, FDI, from the likes of Danone because of our energy efficiency and approach to renewable energy etc. Given Mr. Brady is here, I understand that Article 19 in this new renewable energy directive basically states that carbon credits cannot accrue. For example, in the case of Athenry, if the wind farm gets a REFIT tariff when it is built, the company itself will not be able to get carbon credits or green energy credits for it. There is a prohibition in this article. From speaking to some people in the renewable energy industry, I understand that if there was some deviation on this, it would allow us to be more attractive to FDI and to enter into certain arrangements. At the moment, we have a REFIT tariff that supports, say, renewable wind. However, if a big company wanted to come into Ireland and be associated with a green energy project, perhaps it could pay something towards supporting the cost of it in order that the entire REFIT tariff would not be borne by Government. To make us more attractive to FDI, could there be a more flexible approach rather than that set out in Article 19 of the renewable energy directive?