Renewable energy co-op legislation on the horizon
Among issues raised by the co-op sector was a concern that the statutory limit on individual shareholdings in societies of €150,000 — or 1% of the total assets of a society, whichever is the greater — hinders renewable energy co-ops, due to their large capital requirements. Mr Bruton confirmed abolition of the limit on individual shareholdings is one of the legislative changes he will propose.
Communications, Energy and Natural Resources Minister Pat Rabbitte has confirmed that the Programme for Government commits to facilitate energy co-ops, in order to progress renewable energy uptake and promote local community acceptance of largescale projects.
