Renewable energy key to Ireland’s economic renewal

Ireland's Minister of Finance, Brian Cowen, has revealed plans to introduce a new eco-friendly agreement as part of a wider initiative to improve the country's economy.

The proposed agreement aims to encourage investment in renewable energy, as well as promoting the environmental sector by boosting employment and creating more job prospects in Ireland’s ‘green-collar’ industries.

“Putting energy efficiency at the heart of this strategy will protect us from the inevitable rise in the cost of energy ‘inputs’ and the pollution outputs from our economic activity,” Mr Cowen previously stated.

Subject to the ‘new green deal’, Euro 31bn will be invested in energy firms ESB, Bord Gais and Eirgrid, with a view of meeting a target of generating 40 per cent of the country’s energy from renewable sources by 2020.

Meanwhile, Mr Cowen is set to visit Japan next week along with the Minister for Agriculture, Fisheries and Food, Mr Brendan Smith and the Minister of State for Trade and Commerce, Mr John McGuinness.

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