ESB to provide €75m to help large businesses save energy

Marguerite Sayers: Energy-saving projects will deliver both environmental and financial benefits.  Picture: Maxwells

ESB has announced a €75m fund for large businesses to reduce their energy consumption.

The utility will provide the up-front capital for these energy-saving infrastructural projects with repayments financed by the resultant delivered savings. 

ESB said its Smart Energy Services unit has already delivered projects for more than 300 large businesses across Ireland and the UK. Its list of clients includes Tesco, the V&A Museum in Dundee, Coral Leisure, the daa, and Ardagh Glass. The new fund is expected to deliver carbon savings of up to two million tonnes.

Tesco Ireland COO Geoff Byrne said lighting upgrades across their stores reduced their overall energy consumption by 24% in the last five years and was part of their aim to become a zero-carbon retailer by 2050.

ESB executive director Marguerite Sayers said they are helping organisations undertake energy-saving projects that deliver both environmental and financial benefits. 

"Our expertise in energy management and the availability of this fund will help businesses deliver their own green ambitions and save money while reducing carbon emissions to the benefit of all,” said Ms Sayers.

The fund is open to large businesses with an overall energy bill of more than €200,000 per year.