Ireland ends coal power generation at Moneypoint
Ireland has ended coal power generation, joining a growing group of European countries that have eliminated the fuel from their electricity mix.
The closure of Moneypoint's coal operations makes Ireland Europe's sixth country to exit coal as renewables continue to increase their share of power generation.
The station in Co Clare will continue to operate, serving as a back-up role, burning oil under emergency instruction from EirGrid until 2029.
Moneypoint is one of Ireland's largest energy generation stations and was developed in the 1980s to mitigate against the then oil crisis.
Cathal Marley, Chief Executive of EirGrid, said the change marks a significant milestone for the country's electricity system.
"While Moneypoint will no longer use coal, we entered an agreement with ESB, following direction from our regulator, CRU, to make Moneypoint units available on a temporary basis as out of market units up to 31st March 2029.
"The units will operate using oil as the primary fuel source and will support the overall adequacy position for Ireland, alongside the other measures in CRU's Security of Supply Programme.'
Paddy Hayes, Chief Executive of ESB said the teams working at Moneypoint and the communities across West Clare have been at the heart of powering Ireland's electricity system for the best part of 40 years.
Friends of the Earth Ireland also welcomed the move, saying the cessation of coal operations at Moneypoint fires the starting gun on what could be a defining summer for Europe's coal phase-out, with Spain and Italy set to follow suit in the coming months, with the anticipated shutdown of their remaining mainland coal plants.
Read More
Proposal excuses new data centres from using renewable sources as back-up electricity
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Independent
2 hours ago
- Irish Independent
Coinbase becomes second major crypto firm to move regulatory hub out of Ireland in 2025
The company has obtained its Markets In Crypto Assets (Mica) licence, a foundational legal instrument for trading across the EU 27 countries, in Luxembourg. In 2023, Coinbase had said that Ireland was chosen from 27 EU countries to be its regulatory and operational hub for Europe, citing a 'stable political environment for technology innovation', 'respected regulators' and being 'a jurisdiction that is familiar and comfortable with both financial services and technology.' Since then, the Irish Central Bank has consistently denigrated crypto as a sector, with Governor Gabriel Makhlouf publicly branding virtual currencies as 'Ponzi schemes'. Coinbase CEO, Brian Armstrong, said in an interview with CNBC that the company has moved to Luxembourg for regulatory reasons. 'Luxembourg is leading the way with its pro-business climate and thoughtful approach to regulation,' he said. Earlier this year, another prominent crypto company also switched its regulatory hub away from Ireland, where it had initially established its European base. Gemini, the cryptocurrency exchange founded by the US billionaire Winklevoss twins, switched its headquarters from Ireland to Malta, citing a better environment for 'innovation among fintech and digital assets'. Senior figures in the Irish cryptocurrency and blockchain industry have expressed concern that a lack of Irish interest in cryptocurrency regulation is driving companies and jobs away. Earlier this year, the Central Bank tendered for consultants to advise it on crypto regulation, after the EU's main Mica rules had already come into force, prompting accusations of being a party-time regulator from prominent Irish crypto figures. In a move to reassure Irish staff of Coinbase's future here, the company's vice president and regional managing director, Daniel Seifert, said that it would soon hire more people for its Dublin office. ADVERTISEMENT "Regarding Ireland, we are happy to announce that Coinbase is doubling down on its commitment to the country and we are imminently adding around 50 jobs to our office,' he said. Coinbase is understood to employ over 100 people at present, having shed almost half of its staff during the tech industry's post-Covid layoffs. 'Our e-money licence through which we service customers across the EU is held in Ireland,' said Mr Seifert. 'I have relocated to Ireland, as CEO of the Irish entity, demonstrating our commitment to scaling international operations and deepening our presence in Europe, one of the most strategic and rapidly evolving crypto markets globally."
Irish Examiner
4 hours ago
- Irish Examiner
Ireland ends coal power generation at Moneypoint
Ireland has ended coal power generation, joining a growing group of European countries that have eliminated the fuel from their electricity mix. The closure of Moneypoint's coal operations makes Ireland Europe's sixth country to exit coal as renewables continue to increase their share of power generation. The station in Co Clare will continue to operate, serving as a back-up role, burning oil under emergency instruction from EirGrid until 2029. Moneypoint is one of Ireland's largest energy generation stations and was developed in the 1980s to mitigate against the then oil crisis. Cathal Marley, Chief Executive of EirGrid, said the change marks a significant milestone for the country's electricity system. "While Moneypoint will no longer use coal, we entered an agreement with ESB, following direction from our regulator, CRU, to make Moneypoint units available on a temporary basis as out of market units up to 31st March 2029. "The units will operate using oil as the primary fuel source and will support the overall adequacy position for Ireland, alongside the other measures in CRU's Security of Supply Programme.' Paddy Hayes, Chief Executive of ESB said the teams working at Moneypoint and the communities across West Clare have been at the heart of powering Ireland's electricity system for the best part of 40 years. Friends of the Earth Ireland also welcomed the move, saying the cessation of coal operations at Moneypoint fires the starting gun on what could be a defining summer for Europe's coal phase-out, with Spain and Italy set to follow suit in the coming months, with the anticipated shutdown of their remaining mainland coal plants. Read More Proposal excuses new data centres from using renewable sources as back-up electricity
Irish Examiner
7 hours ago
- Irish Examiner
Moneypoint ends coal generation early as ESB shifts focus to renewable energy hub
Coal generation has ended earlier than expected at Moneypoint Power Station in Co Clare. After 40 years, the ESB, which operates the station, announced it has transformed the site into a renewable energy hub as coal generation came to a close. Moneypoint began its transition away from fossil fuels in 2017 with the construction of a 17MW onshore wind farm. In 2021, ESB announced a multi-billion-euro plan to transform the site into one of the country's largest renewable energy hubs, utilising its deep-water port and existing infrastructure. Phase one of this plan was completed in 2022 with a €50 million investment in Ireland's first synchronous compensator — a zero-carbon technology that allows the system to handle increasing amounts of renewable electricity. CLIMATE & SUSTAINABILITY HUB In 2023, ESB and EirGrid signed an agreement to keep Moneypoint available (to generate electricity using oil) from 2025 to 2029. The station will only be required to operate when the electricity system is short on capacity, and only under instruction from EirGrid. Oil generation is less carbon-intensive than coal, and the station is expected to run significantly less often during these four years. On Friday, Minister of State at the department of agriculture, Timmy Dooley, visited the site alongside ESB Chief Executive Paddy Hayes. Speaking about the move, Mr Dooley said: "The early end of coal generation at Moneypoint represents a significant milestone for ESB and is another important step in Ireland's energy transformation. "It is the people of the Mid-West that have made this possible and I am delighted that the site will continue to play a critical role in securing Ireland's electricity supply for a number of years to come." Mr Hayes said: "Moneypoint, the teams working here, and the communities across West Clare have been at the heart of powering Ireland's electricity system for the best part of 40 years so far – and I would like to thank all those who have played a part in that." Ireland's 2030 target under the EU's Effort Sharing Regulation (ESR) is to reduce greenhouse gas emissions by at least 42% by the end of the decade. Climate Minister Darragh O'Brien said: "Today, the next step of the station's journey is beginning as the shift from coal to oil takes place. This is not just a significant move for ESB but also for the country as a whole as Ireland powers forward to deliver the clean energy transition underpinned by a secure electricity system.
