Relief for Investment in Renewable Energy Generation
This incentive came into force on 18 March,1999. The main provisions are as follows:
A company can get a deduction of the amount of a relevant investment made by it in a qualifying company i.e. a company carrying out a renewable energy project. A renewable energy project means a renewable energy project as certified by the Minister for Communications, Marine & Natural Resources in one or more of the following categories of technology -
- solar power,
- windpower,
- hydropower, and
- biomass.
The amount that can be invested in any one project cannot exceed -
- 50 per cent of the relevant cost of the project, or
- €9,525,000,whichever is the lesser.
A company can, however, invest up to €12.7m in various projects in a twelve month period.
Further information is available from
Direct Taxes: Incentives,
Office of the Revenue Commissioners,
Dublin Castle,
Dublin 2.
Tel : + 353 1 6475000 Exts. 24107, 24109 and 24110.