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ESB Networks announces transformative plans for a Net Zero future with estimated investment of €10 billion

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ESB Networks announces transformative plans for a Net Zero future with estimated investment of €10 billion

ESB Networks announces transformative plans for a Net Zero future with estimated investment of €10 billion
January 24
10:07 2023
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ESB Networks has launched its Networks for Net Zero Strategy which outlines its commitment to future-proofing Ireland’s electricity network and making the country’s goal of net zero by 2050 a reality. This will require deploying innovative solutions today which are scalable to meet the electricity needs of the nation by 2040.  The Networks for Net Zero Strategy will underpin an energy transition that will enable electricity customers to adopt new technologies, products and services in the decade ahead, changing how they generate, store and consume electricity.

In order to meet the changing needs of society and to achieve climate action targets, ESB Networks has set out an estimated €10 billion euro investment to 2030 to develop a smarter and more flexible electricity network. The transformative plan will be a key component of delivering a clean electric future and supporting the connection of renewables.  It will also meet the anticipated increased demand for electricity in Ireland as a result of growth in industry, new housing projects and the electrification of transport and heating. It will involve working collaboratively with all stakeholders towards a net zero future, powered by clean electricity.

ESB Networks will be recruiting a significant number of people over the next five years to drive delivery of the Strategy. The Strategy will also mean further developing global supply chain and contractor partner relationships.

The Networks for Net Zero Strategy will:

  • Enable 9 gigawatts (GW) of onshore wind, 8 GW of solar, and at least 5 GW of offshore wind.
  • Deliver capability to manage up to 30% of all electricity demand flexibly.
  • Deliver a smart distribution network through ESB Networks’ National Networks, Local Connections programme.
  • Connect renewable generation to enable up to 80% of decarbonised electricity.
  • Support Government commitments under the Housing for All programme by connecting more than 300,000 new homes by 2030.

Minister for the Environment, Climate and Communications, Eamon Ryan TD, said:“We are at a critical juncture in the climate crisis. Every energy group, company or organisation that I meet, I tell them that the grid is key to our renewable future. I welcome ESB Networks’ ambitious Strategy as it outlines a clear road map of how our electricity system will play a key role in Ireland’s transition to net zero and address climate change challenges.”

“Building on its strong legacy, the ESB Networks’ Strategy recognises the importance of developing an electricity network that is prepared and equipped to adapt to meet the changing needs of Irish homes, farms and businesses and enable the decarbonisation of the Irish economy and society. I welcome in particular the planned multi-billion euro investment and significant recruitment drive to ensure our climate action targets are delivered upon.”

ESB Networks Managing Director, Nicholas Tarrant (pictured) added: “Our Networks for Net Zero Strategy highlights ESB Networks’ leading role and commitment to delivering on the Government’s Climate Action Plan Targets for 2025 and 2030. This Strategy also commits ESB Networks to delivering a Net Zero Ready Distribution Network by 2040. This will accommodate high levels of renewable generation to provide clean electricity which will be used to replace fossil fuels wherever possible and enable the decarbonisation of Irish society. This Strategy is about putting customers first and empowering everyone to be part of the journey to Net Zero. We are looking forward to leading the way, making transformational changes to address the climate challenge and supporting a vibrant modern Ireland for generations to come.”

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