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RESS 2 awards nearly 2GW of capacity as strike prices jump 30%
Ireland has released the provisional results of the second round of its Renewable Electricity Support Scheme (RESS), awarding nearly 2GW of capacity across onshore wind (414MW) and solar PV (1.534GW). A wide collection of developers, utilities, and strategics are set to walk away with contracts for their projects, including Highfield Solar, Statkraft, Soleire Renewables, Elgin Energy, Amarenco, Power Capital, and others
Irish grid operator EirGrid on Friday (May 20) published details of the award of nearly 2GW of new renewables capacity across 80 projects with 15-year incentives contracts under the RESS auction framework, in an eagerly anticipated test of how the market had developed since the inaugural edition back in 2020.
The average strike price this time was EUR 97.87/MWh, representing a 32% price increase on the EUR 74.08/MWh registered for the technology-neutral pot in RESS 1. The dedicated community projects section of RESS 2 cleared even higher at EUR 116.41/MWh.
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