Ireland receives €8.5m for energy efficiency

Ireland has received investment worth €8.5 million (£6.12m) for energy efficiency projects. The cash from Church of Ireland will be used by the Ireland Energy Efficiency Fund (IEEF), which is […]

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By Jacqueline Echevarria

Ireland has received investment worth €8.5 million (£6.12m) for energy efficiency projects.

The cash from Church of Ireland will be used by the Ireland Energy Efficiency Fund (IEEF), which is aiming for investment totalling €70 million (£50.4m) by 2016.

It was previously granted €35 million (£25.2m) by the Irish Government and funding from companies including Glen Dimplex and London & Regional Properties.

David Hourihane, Managing Director of Sustainable Development Capital LLP, the IEEF’s investment advisor said: “Energy efficiency investments produce stable risk-adjusted returns whilst delivering value for money to the end client along with substantial environmental returns through funding infrastructure that reduces energy consumption.”