Expected ROI of enterprise ESS system project in Ireland 2026

Who financed ESS project?

close for 2 x 100 MW Energy Storage System (ESS) project at Shannonbrige and Lumcloon, Ireland (“Project”). The Export-Import Bank of Korea has acted as the lead arranger and provided the required debt financing for the Project. Hanwha Energy has been supported by as the exclusive financial advisor.

What is Enterprise Ireland's New five-year strategy?

Kevin Sherry, Interim CEO, Enterprise Ireland, said: “Enterprise Ireland is committed to working with Irish businesses to help them grow and succeed in international markets. Our objective in our new five-year strategy ‘Delivering for Ireland, Leading Globally’, is to Accelerate Sustainable Irish Business, now and into the future.

How does energy storage affect Roi?

The cost of electricity, including peak and off-peak rates, significantly impacts the ROI. Energy storage systems can store cheaper off-peak energy for use during expensive peak periods. Subsidies, tax credits, and rebates offered by governments can enhance the financial attractiveness of ESS installations.

How good is Ireland's energy storage strategy?

Smith pointed out that Ireland’s energy storage strategy, published in 2024, was “quite positive.” A lot of high-level plans and a technology agnostic outlook. “Unfortunately, we haven’t seen a lot of progress on those actions which is a problem we are trying to address,” said Smith.

How has Pr5 contributed to Ireland's energy security?

During PR5, we have also made a crucial contribution to Ireland’s energy security by connecting 853 MW of thermal generation and 608 MW of battery energy storage to the transmission and distribution networks, with further projects to be connected before the end of 2025.

Does ESS work across SEM and Ni?

With the introduction of common network charging arrangements for ESS across SEM, not only does ESS behave similarly across ROI and NI, but the utilisation of ESS also increases substantially, unlocking its potential further as more hours of market price arbitrage are considered for charging and discharging.