The Minister was speaking to industrialists at an international climate change and energy seminar in Leuven, Belgium.
The Minister said: “The gas dispute between Russia and Ukraine has highlighted the vulnerability of Western economies when external fuel supplies are cut off. In such circumstances, it is those who are poorest that suffer the most.
“We must ensure that energy, the life blood of modern economies, continues to flow. I have put in place a full review of Northern Ireland’s energy policy to ensure that government is equipped to respond to a rapidly changing landscape. Northern Ireland is also working with its UK partners and regional neighbours to enhance its security of supply.
“We are blessed with an abundance of energy sources. These include wind, wave and tidal sources as well as opportunities for the agricultural sector to contribute to renewable energy, for example from bioenergy.”
While the Minister believes that the development of new technologies will be key to unlocking a diverse energy supply, she recognises there are challenges still to be tackled with proven technologies.
Arlene Foster said: “In order for Northern Ireland to benefit from a substantial increase in wind powered generation, our electricity grid will need a major overhaul. This will require significant investment.
“Meanwhile, our focus must also be on the development of new technologies to unlock a diverse energy supply. This is highlighted by the success of the SeaGen tidal project at Strangford Lough, which is expected to generate sufficient, clean renewable electricity for some 1,000 homes here, by using the tides.
“The ‘BioMara’ project is researching the prospect of future bio energy from the sea. Government and EU support through the INTERREG Programme is opening up innovative world class research into bio-energy production from local sources of marine algae.”
The Minister also took the opportunity to emphasise the need for a robust market infrastructure and refered to the first year of the cross border Single Electricity Market.
Arlene Foster said: “Northern Ireland is testimony to how a small region of the United Kingdom can play its part in Europe. By working with our counterparts in the Republic of Ireland, we established the Single Electricity Market, in record time. This is the first successful regional wholesale market of its kind within the European Union’s Internal Market.
“We are already seeing evidence of growing competition, with nearly 40 companies seeking to participate in the new market. More are expected to enter the market in the future. This can only mean good news for customers.”
The Minister concluded: “We are entering a new energy era, an era that will bring as many opportunities as it does challenges. If we are to combat climate change and achieve a sustainable energy future for our children, it will be important to work not only in partnership with our regional neighbours but with those across Europe.”
Notes to Editors:
- A two day conference on “Climate and Energy: How to Address the Challenges” is being held at the Leuven Institute, Belgium on 19 and 20 January. The seminar will focus on the EU’s target for reducing greenhouse gas emissions by 20% by 2020; and Northern Ireland’s and the Republic of Ireland’s ability to meet their respective share of the target.
- The joint ‘BioMara’ project is led by marine scientists in Northern Ireland, Scotland and the Republic of Ireland.
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