It now appears that Britain will soon be buying all of Ireland’s excess green power. This news comes just years after the government gave the go ahead to sign a contract to assess the prospect of cross-border green energy trading. This supports claims that Ireland could be a huge exporter of green energy in the near future.
The energy ministers for the countries are all set to sign an “understanding” in Dublin. Here they will agree to assess the costs and, of course, the benefits of trading renewable energy. Edward Davey, who is the British Secretary of State for Energy and Climate Change, said that making the most out of the world’s natural renewable resources is what this is all about. It could benefit the economies of both countries.
This new agreement should help Britain reach its very ambitious goal of generating at least 15% of all of its energy from renewable sources by the year 2020. Of course, it is still not known just how much this new agreement will help. After all, Ireland will only be exporting its excess green energy to Britain.
Of course, this agreement has been in the making for a long time. Ministers held a preliminary discussion about this agreement in June of last year. Since then, companies have been announcing their plans to build more wind farms and energy networks in Ireland. After all, they now know that all of the excess energy would be sold to the UK.
One of the new projects that will be built because of this deal is a £7 billion scheme. Here they will build between 500 and 700 wind turbines in the Midlands of Ireland. Most of the energy that is produced there will be exported over to Britain.
Current European rules suggest that every member state has a lawfully binding target to produce so much energy from green resources. However, thanks to the signing of the inter-governmental agreement, nations can now import green energy to each other to help meet these goals. This is just what Britain hopes to do with Ireland.
In the end, this is great news for both areas. Britain can use this excess green energy to reach its own goals, and Ireland can turn a nice profit off selling its green energy to Britain. However, this will not be enough to help Britain fully reach its goals. Now the question is: What will Britain do next?