Renewable Electricity Corporate Power Purchase Agreements Roadmap
The Climate Action Plan 2021 sets out a roadmap to deliver on the target of a 51% Green House Gas (GHG)emissions reduction by 2030, which was established by the 2030 Climate Action and Low Carbon Development (Amendment) Act 2021
Erin
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This includes increasing the share of electricity demand generated from renewable sources by 2030 to up to 80%. This will not just reduce our emissions from electricity, it will allow us to electrify other sectors such as transport, industry and heat and reduce our emissions in these sectors too.
In the Climate Action Plan Annex of Actions, which was published on 14 December 2021, Action 99 commits to the publication of a roadmap for Corporate Power Purchase Agreements (CPPAs) by end Q1 2022.
CPPAs have a role tole play in decarbonising the electricity sector. A CPPA is an arrangement whereby a company procures renewable electricity through a direct contractual agreement with a renewable electricity generator.
To support the cost-effective delivery of the renewable electricity target, the Sustainable Energy Authority of Ireland (SEAI) was tasked with commissioning a study to inform Government policy on how best to develop the market for CPPAs.
A cross Departmental and agency Steering Group was convened and the SEAI contracted consultants to execute the study. In February 2021, the SEAI launched a public consultation on policy options to support the uptake of CPPAs, along with a detailed consultancy report.
Building on this work, this roadmap sets out seven core principles which have been developed to help ensure that corporate power procurement contributes effectively and efficiently to delivering on Ireland’s climate and renewable energy targets. The roadmap also sets out the expected timeframe for related policy developments.
Source: Department of the Environment, Climate and Communications
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