SHANTON ENERGY LTD
Shanton Limited is a Joint Venture company formed by Shannon Energy and Obton to pursue solar project opportunities under the Renewable Energy Support Scheme (RESS) in Ireland. We will also seek suitable UK and European projects that satisfy the Obton model for return on equity deployed.
Our objective is to purchase, build and operate 500 MW of solar projects over the coming years. The first project of c. 50MW has been signed and agreed.
Renewable Electricity Support Scheme (RESS)
- An Enabling Framework for Community Participation through the provision of pathways and supports for communities to participate in renewable energy projects
- Increasing Technology Diversity by broadening the renewable electricity technology mix (the diversity of technologies)
- Delivering an ambitious renewable electricity policy to 2030
- increasing energy security, energy sustainability and ensuring the cost effectiveness of energy policy
RESS auctions will be held at frequent intervals throughout the lifetime of the scheme. This will allow Ireland to take advantage of falling technology costs and by not auctioning all the required capacity at once; we will not be ‘locking in’ higher costs for consumers for the entirety of the scheme.
The Scheme will provide for a renewable electricity (RES-E) ambition of up to a maximum of 55% by 2030, subject to determining the cost effective level which will be set out in the draft National Energy and Climate Plan (NECP).