Martin Ferris (Kerry North-West Limerick, Sinn Fein)
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Question 320: To ask the Minister for Communications, Energy and Natural Resources the number of jobs that are expected to be created in the renewable energy sector under the auspices of NewERA. [37698/11]

Fergus O'Dowd (Louth, Fine Gael)
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The Government announced the establishment of the New Economy and Recovery Authority (NewERA), in line with the Programme for Government on 29 September last. NewERA has been established on a non-statutory basis as a Shareholder Executive within the NTMA. NewERA will carry out the corporate governance function, from a shareholder perspective, of ESB, Bord Gáis, EirGrid, Bord na Móna and Coillte, reporting to the relevant Ministers. Its operation will be overseen by the Cabinet Committee on Economic Infrastructure.

In this capacity, NewERA will have responsibility for reviewing capital investment plans of these commercial semi state companies from a shareholder perspective and will identify possible synergies between investment programmes of different State companies.

NewERA will work with Departments to develop and implement proposals for investment in line with NewERA Programme for Government commitments across the Energy, Water and Next Generation Telecommunications areas. The Government has made clear its intention to ensure that State Companies play a full role in Ireland's economic recovery.

The Energy State Companies are already engaged in significant programmes of infrastructure investment including in the renewable energy sector. We must ensure that all the investment programmes of the State Companies are cost effective, strategic and subject to rigorous shareholder scrutiny. NewERA will have a key role to play in this regard on behalf of the Government's shareholder interests in the State Companies, where appropriate regulatory oversight will also continue to be a fundamental requirement. NewERA will also work with the National Pensions Reserve Fund (NPRF) to bring forward proposals for investment of available resources, each such investment to be on a commercial basis. In this context, the Programme for Government commits to investment of €2bn from the sale of non strategic assets to fund NewERA investment. Now that the Authority has been formally established, I am confident that progress can be made on necessary investment under the aegis of New ERA with consequential positive direct and indirect jobs impact.