Ireland's RESS 5 Auction Awards 1.08 GW in Renewables

• Ireland's RESS 5 awards 1,079 MW in renewable capacity, spotlighting solar's dominance and competitive pricing. Final results due October 15.

Ireland's government has provisionally awarded 1,079 MW of onshore wind and solar capacity in its fifth Onshore Renewable Electricity Support Scheme (RESS 5), according to grid operator EirGrid. Solar projects secured the majority of the capacity with 860 MW, while onshore wind accounted for nearly 219 MW. The average weighted strike price for all successful projects was EUR 98.81 (USD 115.9) per MWh, with wind clearing at EUR 96.56/MWh and solar at EUR 100.63/MWh.

The auction attracted 40 projects, with 33 qualifying to participate. Of these, 23 were provisionally successful, and 10 were provisionally unsuccessful. The final auction results are expected to be published on October 15.

What are the key outcomes of Ireland's fifth Onshore Renewable Electricity Support Scheme?

• The scheme aims to increase Ireland's renewable energy capacity and reduce reliance on fossil fuels.
  
• It supports Ireland's target of achieving 80% renewable electricity by 2030.
  
• The awarded projects are expected to contribute significantly to Ireland's carbon reduction goals.
  
• The scheme encourages investment in renewable energy infrastructure and technology.
  
• It provides a stable revenue stream for developers through long-term contracts.
  
• The auction process promotes competitive pricing, potentially lowering costs for consumers.
• The scheme supports job creation in the renewable energy sector.
• It enhances energy security by diversifying Ireland's energy sources.
  
• The focus on both wind and solar projects reflects a balanced approach to renewable energy development.
  
• The scheme is part of Ireland's broader strategy to transition to a low-carbon economy.