Pic (cc) Final Gather
Ireland you messed up. You got greedy and now you owe big banks in Germany lots and lots and lots of money.*
Payback is tough, but maybe today’s Irish Times leader points to a solution. A post-Fukishima Germany is rethinking its energy mix. Ireland, you haven’t even fully thought out yours in the first place, but look west and you’ll see an answer both yourselves and Frau Merkel may find to your liking. What’s more, the interconnectors running energy off the island of Ireland and into mainland Europe are close to coming online which means you get to enter a market formally reserved for big boys and girls only.
Supply and demand, debt for wind. Easy no? Oh, and as an upside, you get to turn your desolate western ports into green jobs incubators. Sorta like Dong Energy is doing in Belfast. Double win, all across the Atlantic coast.
And here’s a bit of advice Ireland. Get this done quick. Because if you don’t, the smart German electricity companies are going to buy up your waters and do this anyway. Who do you think electrified Ireland in the first place?
* Let’s ignore for the sake of simplicity the complicit and profit making motives of German banks in lending money to greedy Irish developers in the first place.
Irish ministers were in London this week discussing renewable energy sales. Very neighbourly of Britain to offer to subsidise (I’m guessing) cap-ex projects. Thanks chaps.