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Private sector investment in sustainable energy another opportunity lost by government

17 July, 2012


Speaking with regard to the announcement of a major private sector investment in sustainable energy Sinn Féin spokesperson on Jobs, Enterprise and Innovation Peadar Tóibín TD said:

“Sinn Féin has called for government investment in sustainable energy to enhance security, drive down energy costs for business and households and generate profit to the state.

“While we welcome this investment it is another opportunity lost by this government.

“It’s ironic that on the day the government launched its timid anaemic stimulus plan we have learnt that an American company is investing €8 billion in harnessing Irish wind energy to be sold to Britain for a guaranteed price.

“This was an opportunity teed up for the Irish government. The ESB was set up in difficult times in 1926 to do practically the same thing. They built Ardnacrusha to harness Irish resources which drove the Irish economy and made profit for the state.

“However the lack of action by this government means that the profit from this investment will not be realised for the people of this state. It will go on the bottom line of a foreign business.

“We are concerned that the government is poised to make the same mistake with regard to broadband with the private sector taking the profit making investment and the state, households and local business will pick up the bill.”

ENDS

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