ESB Networks announces €10bn investment to 2030
ESB Networks has launched its ‘Networks for Net Zero Strategy’ which outlines its commitment to futureproofing Ireland’s electricity network and making the country’s goal of net zero by 2050 a reality. This will require deploying innovative solutions now 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.
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 launched today as it outlines a clear roadmap 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 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.”
The new strategy is linked to the UN Sustainable Development Goals (SDGs). These 17 interlinked goals provide a global and widely accepted blueprint to achieve a better and more sustainable future for all by 2030. They act as a call to action for countries, NGOs, companies and individuals to align their actions around common goals that matter to people and the planet. ESB Network’s Strategy is focused on three of the SDGs where ESB Networks can make a lasting and tangible difference – namely:
SDG 7: Ensure access to affordable, reliable, sustainable and modern energy for all
SDG 9: Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
SDG 13: Take urgent action to combat climate change and its impacts
A Net Zero Ready Distribution Network
The Networks for Net Zero Strategy outlines ESB Networks’ drive to develop a Net Zero Ready Distribution Network by 2040 which will enable Ireland’s achievement of net zero no later than 2050. It is driven by ESB Networks’ central role in leading the transition to a secure and affordable low-carbon future, using clean electricity. The transition to a Net Zero society no later than 2050 will be enabled by a Net Zero Ready Distribution Network by 2040.
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