The Government has announced a €440 million energy programme it says will double the amount of renewable energy used in electricity production by 2010.
The Renewable Energy Feed In Tariff (REFIT) Programme will support the construction of at least 400 megawatts of new renewable energy powered electricity generating plants.
REFIT aims to more than double the contribution of renewable sources in electricity production from 5.2% in 2004 to 13.2% by 2010.
The additional capacity will cost in the region of €440 million and will be partly funded by developers and a Government investment of some €120 million over the fifteen year life span of the programme.
Minister for Communications, Marine and Natural Resources, Noel Dempsey said the investment would be worth €1 billion to the Irish economy over 15 years and would create 300 jobs in renewable energy equipment operation and maintenance.
The programme will also create 1,100 full time construction jobs in construction.
Minister Dempsey said: "This new programme is a major step by the Government towards delivering Ireland's commitments under the Kyoto agreement. It is now a matter for project developers to seize the opportunity and deliver projects quickly."