Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

No, I do not think we are but we are at risk of losing investment if we cannot provide the assurances that investors need. If we look at the investment flow that has come in over recent years, through IDA Ireland work predominantly and elsewhere, it has been a very strong pipeline of investment. The strength of foreign direct investment here and its expansion have been hugely helpful through the Covid period. The Deputy is right. There are two challenges here. In my view we will lose investment if we do not decarbonise our electricity grid over time because I believe major multinationals will demand electricity grids that prioritise renewables in the future, with regard to their own corporate governance demands on the shift to renewables and away from a carbon-based society. The other challenge is that they will demand energy security. They will demand consistency of supply, whether it is a data centre that uses huge amounts of power or something else. We have to do both. This is the challenge.

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