£50m fund will make NI European energy 'leader'

The new £50 million ‘Energy and Environment Fund’ will make Northern Ireland a European leader in the development and use of clean, renewable energy forms.

This was the message from Energy Minister Angela Smith who also told delegates at the annual Northern Ireland Energy Conference that the province's energy infrastructure will have received capital investment of £750 million by 2012.

“Government’s commitment of £50 million for the new Energy and Environment Fund shows that tackling climate change is a top priority and that we are determined to harness clean and renewable sources of energy and achieve success in energy efficiency," the Minister said.

“This work will place Northern Ireland at the leading edge of renewable energy development. This means exploiting the opportunities for clean energy from solar photovoltaic panel, biomass and geothermal energy technologies as well as from our wind and tidal resources. Allied to this exploratory work will be an emphasis on energy efficiency measures."

The Minister also told delegates that work is continuing towards the creation of a single wholesale electricity market on the island of Ireland: “We are just some 18 months away from a single market," she continued. "It will secure greater competition, enhanced security and diversity of supply and will put a downward pressure on costs through economies and efficiencies of scale. In addition, it will provide a more attractive investment environment and has the potential to deliver some £41million to Northern Ireland over 10 years.”

The Energy and Environment Fund is one of three ring-fenced priority funding packages that will provide a total of £45 million in 2006/07 and £55 million in 2007/08, and which were announced in the Draft Budget.

The others are Children and Young People, and Skills and Science.

(MB/SP)