€530 million investment from the EU for the Celtic Interconnector
An Taoiseach Leo Varadkar and Minister for Communications, Climate Action and Environment Richard Bruton have announced a €530 million investment from the EU for the Celtic Interconnector, which will link Ireland to the European continent’s energy market.
Welcoming the announcement , Chambers Ireland Chief Executive Ian Talbot said, “Increased investment in our grid infrastructure will be critical if we are to improve our energy security into the future. Not only will the Interconnector improve the resilience of our energy supply, it is also a strategically important investment, enabling more efficient access to the EU’s Internal Energy Market post-Brexit.
In the transition to a low-carbon economy, we will of course be generating more and more indigenous renewable energy. However, as we move towards increased electrification of heat and transport, ongoing investment into all aspects of our grid infrastructure will be central to maintaining Ireland’s economic competitiveness in the years to come.”
