EirGrid, Ireland’s state-owned electricity grid, has announced the final auction results for 1.9 GW of renewable energy capacity under the Renewable Electricity Support Scheme 2 (RESS 2). The auction resulted in the allocation of 414 MW of onshore wind capacity and 1,534 MW of solar capacity. The winning bids had a weighted average price of $101.80 per MWh. These projects are expected to produce 2,748 GWh of electricity per year.
The 120 MW solar project by Soleire Renewables’ special purpose vehicle (SPV), the Ballymoneen Project, and Clonfad Solar’s 100 MW solar projects were some of the most significant winning bids in the auction. The RESS 2 qualification procedure received a total of 153 bids. According to the Minister of the Environment, Climate Change, and Communications, the auction qualified 130 projects, including 15 community projects. Three concepts were deemed ineligible, and 20 projects formally withdrew from the process.
RESS is a government programme that supports renewable energy initiatives. It is an important part of Ireland’s Climate Action Plan 2021, and it will also help the country meet its aim of at least 80 per cent renewable electricity by 2030. The RESS 2 auction-winning projects will also contribute to Ireland’s contribution to an EU-wide 2030 renewable energy target, as well as Ireland’s target of a 51 per cent reduction in greenhouse gas emissions by 2030 and related carbon budgets.
REGlobal’s Views: RESS will be in force up to 2025 and a minimum of four auctions are planned between 2020 and 2025 to deliver on the 2030 targets. These auctions will help give a boost to Ireland’s renewable energy market.