The government of Ireland has announced the provisional results of the first Renewable Electricity Support Scheme (RESS) auction, with a bidding date set for 28 July 2020. This support typically applies for 15 years. The tender attracted 108 bids, and 82 bids representing 1,276 MW and 2,237 GWh have been provisionally successful in the auction for an average strike price of €74.08/MWh (€72.92/MWh for solar projects and €104.15/MWh for community schemes). Around 796 MW of solar capacity (767 GWh of estimated power generation) secured support, while 479 MW MW of onshore wind capacity (estimated generation of 1,469 GWh) was successful. The final results will be published on 10 September 2020.
Ireland targets 70% of renewable electricity by 2030. In July 2020, the European Commission approved Ireland's Renewable Electricity Support Scheme (RESS), considering that it complied with EU State aid rules without unduly distorting competition. The RESS introduced technology-neutral auctions under the form of a contracts for difference (CfD), while offering a preferential treatment for a small quantity of electricity from solar and from offshore wind. Renewable projects developed by energy communities will benefit from grants and loans and will take part to auctions in a special category to ensure that some of these projects are selected in auctions. Auction winners will receive a premium over a 15-year period, when the market price is below a strike price; when market prices are above the strike price, the project developers will have to reimburse the difference as electricity bill reductions for Irish consumers. The RESS will have a total budget of €7.2bn to €12.5bn until 2025.
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