EirGrid CEO tells US investors about Ireland’s energy achievements

15 Mar 2011

Dermot Byrne, CEO of EirGrid plc, yesterday told a conference of top US executives of Ireland’s recent accomplishments in green tech. These achievements include setting a new wind energy record, with 1,284 megawatts of wind-generated electricity exported to the national transmission system.

Byrne addressed an audience of Fortune 500 CEOs and representatives from US companies who have invested in Ireland at the Ireland Day Summit at the New York Stock Exchange.

The 1,284 megawatts of wind-generated electricity, he said, represented almost one-third of all electricity being used in the Republic of Ireland at the time, something that would have been inconceivable 10 years ago.

Byrne said Ireland has made considerable progress towards meeting its national and European Union renewable energy targets. He added that Ireland had excellent resources in the areas of on-shore wind power, off-shore wind power and of ocean energy, which could provide export potential.

The Irish Government has set a target that 40pc of all electricity consumption in the country must be derived from renewable sources by 2020, which is the equivalent to 37pc of energy being produced by wind. This is the highest target of its kind in Europe.  

In 2011, an estimated 15pc of the Ireland’s electricity demand will be acquired from renewable energy. In preparation for the country to reach its 40pc target by 2020, EirGrid has published research on integrating renewable energy.

Byrne told the business leaders and investors that the Irish power system delivers reliable, secure power supplies and that EirGrid is implementing “the most far-reaching redevelopment of the electricity transmission system since the foundation of the state” through its Grid25 strategy.