Additional funds for on-farm renewable energy investments in the TAMs scheme, and for a large-scale habitat restoration project by Coillte, were included in the €7.4 billion July Stimulus announced last week by the Government.
The funds come from an increased capital allocation of €17 million for the Department of Agriculture, Food and the Marine, out of which the Howth Fishery Harbour Centre Middle Pier Re-development Project will also be financed.
“I am very pleased with the significantly growing numbers of applications under our TAMs scheme, for the solar investments in particular,” said Agriculture Minister Dara Calleary.
Also among the announcements were various taxation initiatives, including income averaging for farmers, and a €500m expansion of the Future Growth Loan Scheme.
Loan terms of more than ten years are available in the Future Growth Loan Scheme, which will sit alongside the credit guarantee scheme, for which legislation continued in the Oireachtas last week, which offers up to six-year loans.
Minister of State Senator Pippa Hackett also welcomed the investments.
“I’m particularly delighted with the allocation for large-scale habitat restoration project by Coillte on Atlantic blanket bog.”
The project will see 2,100 hectares of bog, currently planted with spruce and pine forests, restored with rewetted bog and replanted with native woodlands.
Coillte Chief Executive Imelda Hurley said: “It will create significant biodiversity and outdoor recreation benefits and improve the visual amenity of this iconic landscape.