A total of 82 new commercial wind and solar projects have successfully secured funding under the first round of the Renewable Electricity Support Scheme (RESS).

RESS is a competitive, auction-based scheme where developers of renewable energy projects bid for financial support. A total of 114 projects applied to participate in the first in a series of auctions.

The 82 successful projects, which will receive funding for 15 years, will see the development of approximately 160 new wind turbines (479 megawatt) and 1,750ha of solar panels (796 megawatt).

Community

In addition to this, five solar energy and two onshore wind community projects were successful in receiving ring-fenced funding, equating to 1% of the auction volume.

The average weighted offer price for the auction was €74.08 per megawatt hour.

These projects will contribute approximately 10% of the amount required to meet Ireland’s 2030 targets.