Éamon Ó Cuív (Galway West, Fianna Fail)
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193. To ask the Minister for Communications, Climate Action and Environment if it is planned to provide incentives such as low-interest loans or other incentives to businesses to encourage them to invest in the offshore renewable energy business; and if he will make a statement on the matter. [35763/21]

Eamon Ryan (Dublin Bay South, Green Party)
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My Department is currently developing terms and conditions for the first offshore wind auction to be held under the Renewable Electricity Support Scheme (RESS), which will support the first phase of offshore wind development in Ireland. The RESS incentivises private sector investment in renewable energy production by awarding, via competitive auction, long-term support premiums for renewable electricity produced. It is our flagship renewable electricity scheme intended to support the achievement of our renewable electricity ambition. My Department does not offer loan incentives to renewable energy developers. Instead projects are typically financed through commercial banking arrangements.

My Department supports Enterprise Ireland’s ongoing work to develop an offshore wind business cluster for Irish companies to enable them to develop the skills and experience they need to compete in the Irish, British and European offshore wind markets.