Statkraft secures a total of four Government contracts in renewable energy auction
Statkraft has welcomed the provisional results of the Government’s Renewable Energy Supply Scheme (RESS-2) auction and confirmed that it has secured a total of four contracts.
The renewable energy producer won State contracts for one wind and three solar projects, which will produce a total of 360MW of clean energy.
Commenting on the results, Statkraft Ireland MD Kevin O’Donovan said, “We very much welcome the outcome of this auction and the opportunity to build some more significant renewable energy projects that will benefit the people of Ireland. This represents an investment of over €260 million into the Irish economy over the next number of years, including a continued annual investment into the local communities where we are located.”
“While the outcome for Statkraft is a positive one, it must be acknowledged that it is a challenging time for the industry and for energy consumers. Prices are high and global events have caused major uncertainty. It makes an even stronger case for delivering more renewable energy onto our system, as it leads to more affordability and a secure and independent energy system.”
“At Statkraft we are very committed to helping this country reach its zero carbon targets and we are looking forward to getting these projects underway. Just recently, we have seen the first turbines arriving on one of our first RESS-1 projects - Taghart Wind Farm - and Cloghan Wind Farm is also progressing at pace, so it’s a clear indication that real results are being delivered.”
Progress on Taghart Wind Farm in Co. Cavan, one of the first RESS-1 projects underway.
Donal O’Sullivan, Head of Development at Statkraft Ireland added, “This is a fantastic result for Statkraft but this auction was hugely challenging for the sector. Market volatility, grid uncertainties and planning delays drove up prices in RESS-2 but these factors can be addressed by looking at what kind of systemic changes can be put in place in the longer term. We want to work with the Government and policy makers on the levers at their disposal to enable better pricing going forward, such as reform of planning timelines, inflation, and reducing grid costs and uncertainties.”
“While the price of renewable energy has risen since the last auction, it is still much lower than the price of fossil fuels. The best and most effective way of delivering affordable energy prices for Irish consumers is to deliver these wind and solar projects.”
The wind project totals 47.3MW and the three solar projects total 322MW. Statkraft is aiming to have them completed and operational by the end of 2024/early 2025.
Statkraft entered the Irish market in 2018 and since then has more than doubled its workforce and tripled its development portfolio. It develops, owns, and operates renewable energy projects across the technologies of onshore wind, offshore wind, solar, battery storage and grid services.