Energy shortages now threaten inward investment, IDA warns

State agency claims that the capacity constraints that currently exist on Ireland’s energy grid are of ‘grave concern’ for future industrial development

18th July, 2021
Energy shortages now threaten inward investment, IDA warns
Martin Shanahan, the chief executive of IDA Ireland, has told the Business Post that multinational companies could mitigate the risk of Ireland’s unstable energy sector by moving investments elsewhere. Picture: Fergal Phillips

Ireland’s energy supply crisis is beginning to affect the country’s ability to attract foreign direct investment and has the potential to inflict “considerable reputational damage”, IDA Ireland has warned.

In a hard-hitting submission to the Commission for Regulation of Utilities (CRU) seen by the Business Post, the inward investment agency said a failure to anticipate rising demand had created a “very serious” situation where the country is facing rolling...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Greencoat to sell renewable electricity from Donegal wind farm

Energy Lorcan Allen 2 days ago

ESB bids for Scottish offshore wind project

Energy Lorcan Allen 1 week ago

Ireland can lead push for greener data centres, Ryan says

Energy Daniel Murray 1 week ago

Bord na Móna returns to profit for first time in four years

Energy Lorcan Allen 1 week ago