DAVY VIEW

The programme for government, agreed on June 15th, comprises an ambitious set of Green policies and will legally commit Ireland to achieving net zero emissions by 2050. A significant expansion of renewables capacity looks set to be at the heart of this enhanced commitment. It underpins additional future medium-term industry support and therefore Greencoat’s own runway for growth. Progress towards the first RESS auction (we understand this could be as early as August) is another positive development. The company’s ability to partner with developers from an early stage (potentially forming part of financing solutions such as a ‘forward sale on completion’ model) is likely to reinforce the company’s ‘preferred acquirer’ status as these assets become operational over the coming years.