When one of Ireland’s largest electricity companies claimed capital allowances on the fees charged to plug into the national network, Revenue came back with additional tax bills. The dispute went to a two-day hearing before the Tax Appeals Commission.
The long-awaited selection of the first grid-scale solar energy projects ever eligible to state support in Ireland just one year ago opened the capital floodgates. Norwegian, British and French investors have been piling in.
Larry Goodman is a discreet man. He invests quietly, avoids interviews, and most of his businesses are controlled offshore. Now, his holding company has bought a further 2.5% of Providence Resources, which meant he had to disclose his ownership.
Sometimes wind turbines and solar panels produce excess electricity – sometimes not enough. An Irish company is going to the market to store it underground in gas form and release it when peak demand hits.
An informal suggestion from a leading stockbroker to a minister made it into a formal disclosure: If tax-transparent investment structures were so successful to channel capital into property, why not roll them out to green energy? There is more to it than meets the eye.
For the last year, SpotOn has been in talks with Providence Resources. The deal with the Norwegians is terminated, but they are still shareholders and want to help Providence develop Barryroe.
ECI Energy was spun out of an established family business on the northside of Dublin. Acutrace is a six-year-old prop-tech company tackling inefficiencies in commercial buildings. The two firms have just tied the knot.
From ending coal use to promoting offshore wind energy, integrating hydrogen fuel and channelling investment to the west coast, last week’s ESB announcement ticks all the boxes. It also hopefully marks a new departure from piecemeal policy.
The Government’s new micro-generation purchase scheme will be a nice bonus if you want to put solar panels on your roof, but the real revolution lies in its implications for power prices.
Since taking as CEO of Maxol five years ago, Brian Donaldson has overseen growth and expansion at the 100-year-old fuel retailer. He talks about location, competition and entering the energy sector.
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