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ARTICLE · 01 APRIL 2024

Energy - Horizon Scanner: Infrastructure, Construction, Energy, March 2024

Arthur Cox
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DECC is consulting until 26 March 2024 on design of the RESS 4 auction. One of the proposals is to provide for a suspension of Milestones for Relief Events, that is events outside a generator's control...

IrelandEnergy and Natural Resources
Arthur Cox
Arthur Cox
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KEY DEVELOPMENTS

Fourth Onshore Renewable Energy Support Scheme

DECC is consulting until 26 March 2024 on design of the RESS 4 auction. One of the proposals is to provide for a suspension of Milestones for Relief Events, that is events outside a generator's control that could not have been avoided and which result in or cause the failure of the project to reach individual Milestones. This will be welcomed by developers given that allocation of risk to the entity best placed to manage it is a fundamental principle of project development and is necessary to deliver projects in an economically efficient manner. Similarly, the proposal to extend the timeline for delivery, in light of supply chain stresses, such that the Longstop date will move to the end of 2029, is prudent and is similar to the extension given to RESS 2 projects.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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