Bloomberg Briefs: Clean Energy & Carbon
Ireland “Would Consider” Steps on Wind Rates Issue
June 29, 2015
Ireland’s energy minister said his government is “very conscious” of concerns on the part of institutional investors about changes to local taxation that might treble the level of business rates levied on onshore wind farms.
Alex White, minister for communications, energy and natural resources, told Bloomberg New Energy Finance in an interview in Dublin that he had talked to other ministers in Ireland about the issue, which was last week described by BlackRock Inc, a major investor in Irish wind, as “really, really serious.”
White said that once the rating review appeals process is complete, “if we have to take steps, we would review and consider doing so.” He also said that investors “seek – and are entitled to – certainty.”
The minister also said that a white paper on energy to be published this fall would assess how the country is doing in its effort to meet its 2020 renewable energy target. Failing to meet the 2020 target could leave the country facing European Union fines, potentially of several hundred million euros per year.