Taoiseach to establish Climate Investment Clearing House
- Foilsithe: 18 Aibreán 2025
- An t-eolas is déanaí: 18 Aibreán 2025
Taoiseach Micheál Martin has announced a new Climate Investment Clearing House to accelerate progress on Ireland’s energy transition.
In preparation, he will host a joint Government Industry Forum on Offshore Renewable Energy in the coming weeks, along with the Minister for the Environment, Climate and Communications and the Minister for Enterprise, Tourism and Employment, bringing together public and private sector stakeholders.
The Taoiseach this week received a report from the National Economic and Social Council on Ireland’s Future Power System and Economic Resilience, which is published today.
NESC’s report is the first in a series on energy policy to be published in 2025 and examines Ireland’s plans for decarbonising the energy grid and the expected impact on national economic resilience, opportunities, energy reliability, energy costs, and the potential for Ireland to become a net energy exporter.
The council’s research recommends concerted action to deliver on Ireland’s near-term targets of decarbonising the power system and increasing the proportion of renewables used.
The Council’s report recommends a phased approach with action to be taken now, next, and later to drive progress:
- act now to improve conditions for clean energy infrastructure (planning, skills, financing, grid, and supply chains) and establish new institutional arrangements for better coordination
- act next to address key knowledge gaps, to demonstrate sustainable renewable power demand, and to ensure economic benefits are realised domestically; and
- act later to produce competitively priced energy for export, to develop export methods, and to manage associated challenges, if proven practical and viable
Overall, this new NESC report calls for urgent, systematic action to bridge strategic gaps, enhance economic resilience, and ensure Ireland’s energy transition succeeds. The findings of the report will be used to inform the ongoing work of Government to deliver our energy transition ambitions and accelerate the energy transition in Ireland.
In response to the report, Taoiseach Micheál Martin said:
“The scale of resources needed to deliver a secure and stable green energy system means that we must accelerate investment, both public and private. It will be important to work with all stakeholders to ensure that we have the conditions in place to achieve this energy transformation in an effective, timely and sustainable manner, while ensuring the ongoing competitiveness of the Irish economy.
“As a first step, in advance of establishing the Climate Investment Clearing House, I intend to host a joint Government Industry Forum on Offshore Renewable Energy in the coming weeks, along with the Minister for Environment, Climate and Communications and the Minister for Enterprise, Tourism and Employment, to scope out the role of the Clearing House and how we can best progress delivery of Ireland’s offshore renewable energy objectives.
“The NESC Report provides an overview of actions required now to improve the framework conditions for clean energy infrastructure delivery. It also identifies a series of medium-term challenges which need to be resolved on how the economic benefits of the energy transition can be realised.”
The report and further details can be found on the NESC website.