EIB backs ireland’s energy transition with €450m

The European Investment Bank (EIB) has reaffirmed its commitment to supporting Ireland’s energy transition, providing €450 million to the National Smart Metering Programme.

During a visit to the ESB headquarters in Dublin, EIB Vice President Ioannis Tsakiris praised the partnership between the EIB and ESB, underscoring the importance of investing in a smarter and more efficient energy system.

The National Smart Metering Programme is transforming how nearly 2 million Irish households, farms, and businesses manage their energy consumption, enabling them to monitor usage patterns and switch to more efficient energy tariffs.

The initiative is a key part of Ireland’s wider strategy to reduce carbon emissions, enhance grid flexibility, and integrate a growing share of renewable energy into the national energy mix.

Vice President Tsakiris emphasised the EIB’s commitment to supporting projects that contribute to the decarbonisation of Europe’s energy sector, noting that the smart metering program is a significant step forward in Ireland’s energy transition.

Since 1976, the EIB has provided over €5 billion for energy investment in Ireland, supporting projects in renewable energy, energy distribution, transmission, and smart meter deployment.