The markets that Island Renewable Energy have initially chosen are based on a combined rationale of:
- A sufficiently good and sustainable renewable power resource;
- Pro-active regulatory and government supports for renewable power;
- A local appreciation of the internal market;
- An extensive working knowledge of the grid and planning systems.
The entire island of Ireland functions as a single energy market (SEM) despite two different forms of renewable support from Westminster and Dublin. Despite the differences in the regulatory regimes Island treats the UK and Ireland as one market, and the wealth of experience in Island of dealing in both markets assists in making this an attractive market for the company.
Ireland and Britain under their binding EU 2020 target obligations have over 6GW of onshore wind capacity still unfilled. Onshore wind still provides numerous opportunites. The potential for the development of wind power within urban/industrial brownfield sites is so far largely untapped. Local Government in the UK has decreed that the development of renewable energy schemes on these brownfield sites up to 25MW should be encouraged."
The index linked Renewable Energy Feed in Tariff (REFIT) in the Republic of Ireland and market dependent Renewable Obligation Certificates (ROCs) in the UK provide the sound, secure and proportionally enhanced income for this clean renewable generation.
Ireland and Britain both have huge potential for wind power generation and have the necessary incentives, while Island Renewable Energy has the required technical and business acumen to carry out the development.
Currently we have numerous active developments spread over the Northern Ireland, Wales & Scotland with many more at an earlier stage in our project pipeline. As such, we are on target for developing several hundred megawatts of renewable power by 2015.