A NEW solar energy initiative launched in Ireland this week will allow businesses of all sizes to stabilise their energy spend.
Co. Monaghan based Activ8 Solar Energies and energy firm SSE Airtricity have teamed up to launch the offer which is worth up to €200m.
Under the Solar PV initiative Irish businesses will get help with the upfront cost of installing on-site solar systems at their premises.
Activ8 and SSE will invest in funding, installing and maintaining the Solar PV system for them.
L-r: Niamh Smyth, Minister of State at the Department of Enterprise, Tourism and Employment; Ciaran Marron, CEO at Activ8 Energies; Darragh O’Brien, Minister for Climate, Energy and the Environment; and Stephen Gallagher, Managing Director, SSE Airtricity.Those businesses will pay for the electricity they generate at their site – but at an agreed rate, which is described as “attractive, compared to grid electricity”, through Power Purchase Agreements.
“This initiative comes as energy costs continue to fluctuate due to international supply pressures and geopolitical uncertainty,” an Actvi8 spokesperson explained.
“By ensuring a portion of their energy costs is covered for 15-25 years, participating companies can improve financial predictability, competitiveness; and ultimately the long-term stability of their operations,” they added.
Ireland’s Minister for Climate, Energy and the Environment, Darragh O'Brien attended the launch of the new initiative this week.
“Key priorities for me in government are renewable energy expansion, energy affordability and security, and climate targets alignment,” he said.
“Alongside this, private investment at this scale helps give companies practical options for businesses to reduce exposure to market volatility and plan with greater confidence; while also ensuring we are taking steps towards our 2030 climate targets,” he added.
The Solar PV offer is available across the country.
It is expected to appeal to sectors with high and consistent energy demand, including manufacturing, logistics and large-scale commercial operations.
“Energy price instability has become a real issue for Irish businesses, and many are looking for ways to take control of a cost that can fluctuate dramatically from month to month,” Activ8 Energies CEO Ciaran Marron said.
“This funded initiative gives companies a clear path to predictable energy pricing without upfront investment.
“It is a sustainable solution for businesses of all sizes, allowing them to plan ahead with greater confidence, invest in growth and remain competitive even as energy markets remain uncertain.”
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