The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

UK and Ireland Sign Pact on Renewable Energy Trading

The UK and Ireland today pledged to work together to secure economic benefits for both countries through renewable energy trading.

A memorandum of understanding was signed by UK Energy Secretary Ed Davey and his Irish counterpart Pat Rabbitte in Dublin. The two countries have agreed to investigate ways to achieve more cost efficient uses of resources, drive down deployment costs and reduce dependence on fossil fuels.

It is hoped that through the MoU, an inter-governmental agreement could be signed in 2014 in time for potential projects to start exporting wind energy from Ireland to Britain by 2020.

Rabbitte said today that Ireland has “the potential to generate far more wind energy than we could consume domestically. The opportunity to export this green power presents an opportunity for employment growth and export earnings which we must seize if we can.”

He added: “We will tease out the very complex engineering and market issues so that in a year’s time, we will be in a position to make an inter-governmental agreement providing a formal basis for energy trading.”

Davey said that trading power with Ireland “could increase the amount of green power in our energy mix and potentially bring down costs for UK consumers”.

Trade organisation RenewableUK hailed the signing of the agreement as “the start of an ambitious project which could bring enormous economic and environmental gains for both countries”.

Its deputy chief executive Maf Smith said: “Major initiatives like this create significant opportunities for British companies to help build infrastructure, for example manufacturing and laying undersea cables.     

 “Connecting supplies between countries also gives us the opportunity to feed more electricity from renewable sources into the grid at any one time, so that we can cut down on the amount of expensive old-school fossil fuels we have to import.”

He added that he hoped interconnectors between countries would eventually be developed across Europe. “We can’t control the international price of gas, but we know exactly how cost-effective wind energy is, so it’s in everyone’s interest to ensure this goes ahead as part of moves to put in place interconnection across the continent.”   

Lead image: Shaking hands via Shutterstock

Untitled Document

RELATED ARTICLES

States Already Seek To Delay Clean Power Plan

Andrew Harris, Bloomberg Fifteen states led by coal-rich West Virginia asked a federal court to stall Obama administration rules intended to c...

Stolen Solar Panels and Sabotage A Challenge for Powering India With Renewable Energy

Anindya Upadhyay, Bloomberg Disappointment spread across Tarun Singh’s face when he saw that parts of his solar power microgrid in eastern India’...

Global Renewable Energy Roundup: China, Kenya, Turkey, India Seeking More Renewables

Bloomberg News Editors China is being encouraged by three industry groups to double the nation’s solar-power goal for 2020 to make up for sh...

With Vast Amounts of Geothermal, Wind and Hydropower, Why No Solar In New Zealand?

James Ellsmoor, Contributor New Zealand has built an international brand on environmentalism and the great outdoors. So it is unsurprising that t...

PRESS RELEASES

Array Technologies’ DuraTrack HZ v3 Continues to (R)evolutionize at SPI

Array Technologies, Inc. (ATI) prepares to showcase its recently launched tracking syst...

Appalachian's Energy Center assists counties with landfill gas to energy projects

The Appalachian Energy Center at Appalachian State University recently completed a proj...

Early Bird Registration Deadline for GRC Annual Meeting is This Week

The deadline for early-bird rates for registration for the biggest annual geothermal ev...

Redesigned HydroWorld.com Video Gallery

Hydropower news and information, and interesting promotional announcements are now avai...

FEATURED BLOGS

Transitioning to Net-Zero Living

Judith and Jeffrey adore living in Belfast, Maine – a quaint harbor town of Belfast, Maine. They previously res...

The True Cost of Electric Vehicles in Australia

In order to avoid increased congestion, further greenhouse warming and lessen Australia’s reliance on imported ...

The Coming Multi-trillion Dollar Energy Investment Drive

In coming years, a multi-trillion dollar low-emission energy investment drive will get underway. Three catalysts wil...

The Perfect Elevator Pitch

The elevator pitch is a concise statement that grabs attention and communicates value, ideally leading to a next step...

FINANCIAL NEWS

Kelvin Ross is Deputy Editor of Power Engineering International magazine and its associated publications – Middle East Energy and the Global Power Review. Previously, Kelvin was News Editor at UK online news site Energy Live News, Production Edito...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @jennrunyon

FEATURED PARTNERS



EVENTS

Doing Business in South Africa – in partnership with GWEC, the Glob...

Wind Energy in South Africa has been expanding dramatically, growing fro...

Intersolar India 2015

Exhibition and Conference: November 18-20, 2015 Intersolar India 2015 I...

Intersolar North America 2016

Exhibition: July 12 - 14, 2016; Conference: July 11 - 13, 2016 Intersola...

COMPANY BLOGS

How To Recruit An Internal Ally

When you’re collecting information for a proposal, the person with...

The Proof Is Not Always In The Pudding

One of the best ways to turn a skeptical prospect into a buyer is to giv...

Pushing Beyond The Cushion

Efficiency projects are all too often viewed as “optional” o...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS