The state is faced with keeping coal and oil-fired power plants operating beyond their scheduled shutdown dates to avoid power outages, which will likely deal a blow to the government’s climate change ambitions. Barry O’Halloran reports that Eirgrid will warn today that rising demand and power plant shutdowns could leave the Republic with an energy deficit of 1,050 megawatts, a fifth of its peak needs, by 2025.
In his analysis of Ireland’s energy problems, Barry writes that the national electricity grid operator has been hit by a perfect storm of circumstances, including the closure of old power plants, problems attracting new investment and larger than expected increases in demand.
In the meantime, the government will today reject a motion by the Social Democrats to impose a moratorium on further expansion of data centers, with Eamon Ryan dismissing him as a “blunt instrument”. However, in an amendment to the motion, the government said that all sectors of the economy, including data centers, will be subject to sectoral emission caps, effectively limiting the unhindered expansion of centers. Harry McGee has the details.
Irish banks are at a disadvantage compared to their European counterparts amid an ongoing bonus ban, cumbersome foreclosure regime and high capital requirements, according to a high-profile new report from industry lobby group Banking & Payments Federation Ireland. The report on the future of Irish retail banking, as Ulster Bank and KBC Bank Ireland – the last two overseas-owned banks – exit the market, says the industry is at a “point inflection “. Joe Brennan reports.
Altada, a Cork-based company that has developed an artificial intelligence-based platform to help create operational efficiencies, will create more than 100 new jobs after securing $ 11.5 million in investment. Charlie Taylor writes that the money, which comes on top of a $ 1.5million funding round earlier this year, is being led by Rocktop Partners, a Texas-based alternative investment manager who was at the originally one of the customers of the company from Cork.
Vodafone Ireland is to invest more than 2 million euros in a multi-year digital skills training program for seniors. The national program, which will be delivered through a mix of online courses and in-person mentoring, is implemented by the Vodafone Ireland Foundation in partnership with Alone and Active Retirement Ireland. It aims to reach over 230,000 seniors over the next five years through its specially designed educational platform. Ciara O’Brien has the details.
In Commercial Real Estate, Fiona Reddan reports that Johnny ronan has filed a planning application to develop 44 luxury apartments for the rental market at Appian Way in Dublin 4. This is the latest effort to develop the 0.23 acre site, which is at the junction of Leeson Street, because it has been vacant for about a decade and a half.
Fiona also reports that Dublin could get another new hotel now that a site with full building permit for a 244-room hotel has entered the market looking for € 15million in The Liberties in the heart of downtown. Dublin city. Located at Molyneux Court in Dublin 8, the proposed development will include a contemporary eight-story basement hotel with a café, restaurant and bar.
The former site of the Gallaher cigarette factory in Tallaght entered the market for an amount of 16.5 million euros. Originally built in the 1950s, the factory closed in 2003 following a restructuring of the company at European level. The site was then sold at the height of the boom to Bernard McNamara and Gerry O’Reilly and then resold in 2012 by receivership to the current owners.
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