Dublin - Ireland's Prime Minister Bertie Ahern said Thursday that the government will invest over 200 million euros (306 million dollars) in energy-related research and development. Speaking at a sustainable energy conference in the capital Dublin, Ahern said the money will be made available over the next five years.
"Our objective is an energy policy based on secure sources of supply that promotes competitiveness and is environmentally sustainable," Ahern said.
Currently 90 per cent of Ireland's energy comes from imported fossil fuels and greenhouse gas emissions are at nearly twice the level they are supposed to be at.
Ahern said that on an all-island basis Ireland can go beyond 33 per cent renewable electricity by 2020.
An agreement was signed this week between Sweden's Vattenfall power company and Ireland's Wavebob, a wave energy company, to develop commercial wave power farms off western Ireland.
The Irish premier also underlined the importance of a Yes vote in Ireland's referendum on the European Union's Lisbon reform treaty: "By approving the treaty in the upcoming referendum, we can contribute to the EU's international leadership role in the global effort to combat climate change."
The EU is committed by 2020 to reducing carbon emissions by 20 per cent on 1990 levels.
