EirGrid publishes provisional RESS 4 auction results

On 9 September 2024, EirGrid published the provisional auction results for the Government’s fourth Renewable Electricity Support Scheme (RESS 4). We highlight a number of key statistics from the results below. 

• A total of 56 projects applied to participate in the RESS 4 Auction, of which ten formally withdrew and three did not qualify. Of the 43 qualifying applicants, 27 projects have been provisionally successful.
• 1333.64 MW of wind and solar energy was successful representing a significant jump in capacity awarded compared to the 646 MW awarded in the 2023 RESS 3 auction. In the RESS 4 auction, 959.84 MW of solar energy was successful alongside 373.8 MW of wind energy.
• The average strike price for all successful projects is €96.85/MWh which represents a slight reduction from the €100.47/MWh awarded in RESS 3. Successful solar projects were awarded an average strike price of €104.76/MWh with onshore wind projects securing on average €90.47/MWh. 
• Just 9.03 MW of wind projects were unsuccessful whereas 503.88 MW of solar projects were unsuccessful.

Summarised below are the results of each of the 4 RESS auctions held to date:

What happens next?

The next steps in the auction process following the publication of the provisional results are:

1. Applicants dissatisfied with the provisional results may issue a Notice of Dissatisfaction (by 11 September 2024), appealing the decision on the basis that EirGrid did not correctly apply the RESS 4 Terms and Conditions.
2. EirGrid will then submit the Provisional Auction Results to the Minister for the Environment, Climate and Communications (the Minister) for approval, following which the Minister will consider the Provisional Auction Results, the Auction Monitor report (in accordance with the Information Paper) and any Notices of Dissatisfaction submitted by qualified applicants in respect of a Provisional Auction Result.
3. EirGrid will issue final auction results on 25 September 2024, with a notice of award to be issued to each successful project on 2 October 2024.

For more information, please contact Ross Moore, partner, John Dallas, partner, Ivor Deeleman, solicitor, or a member of the Energy, Infrastructure & Natural Resources team.

Date published: 11 September 2024