DAVY VIEW

Finer details of the RESS-1 (Ireland’s first Renewable Electricity Support Scheme auction) timetable, published on December 17th, provide important visibility regarding future renewable capacity additions in Ireland. We now know the initial timing of support that should drive the next leg of Ireland’s transition towards 70% renewable energy reliance (resulting in the addition of c.9GW over the next decade). Importantly, this enhances Greencoat’s positioning and opportunity set in Ireland. In this report, we set out a summary (and recap) of recent RESS developments, including those from this morning’s RESS-1 auction briefing.