Davy has established a new renewables team within its corporate finance division, eyeing an opportunity as the Republic’s target of achieving carbon neutrality by 2050 will need over €40 billion of investment.
The stockbroking firm has picked Barry Dixon, Davy's current head of research, to lead the team.
The company has also struck a strategic partnership with the UCD Energy Institute, whose NexSys programme is focused on addressing key issues relating to the transition to a Net Zero Carbon Energy Future. The collaboration is designed to connect renewables-enabling technologies and research with funding solutions, it said.
“The team aims to promote and support the development of innovative technology solutions to address the current energy supply chain gap. This is the gap between abundant but highly variable renewable energy sources - such as wind, solar or hydro - and the consistency of energy supply required by energy corporate and residential consumers,” Davy said.
“Key targets for support will include potential intermediaries and technologies that can deliver consistent and reliable energy capture, storage and release solutions to help deliver Ireland’s renewable energy obligations.”
