Michael Moynihan
Question:497. Deputy Michael Moynihan asked the Minister for Agriculture, Food and the Marine the estimated annual cost of supports currently provided for an initiative (details supplied). [41065/24]
View answerTuesday, 15 October 2024
Questions (497)
Written answers
The Targeted Agriculture Modernisation Scheme (TAMS 3) provides grants to farmers to build and/or improve a specified range of farm buildings and equipment on their holdings. The Solar Capital Investment scheme is a measure in TAMS, which provides support to farmers wishing to invest in renewable energy, thereby reducing their dependence on fossil fuels.
Payments are based on payment claims submitted in respect of completed approved investments. To date, over €1.7 million has been paid in grant aid under the Solar Capital Investment Scheme in 2024, with a further €484,546 paid for solar investments in TAMS II in 2024.
A total of over €34 million has been approved for solar investments under the first three tranches of TAMS 3. Applicants have 12 months from their date of approval to complete their investments and submit payment claims to my Department. In certain circumstances applicants may seek an extension of six months to complete investments and lodge their payment claims. Therefore the overall approved investment of in excess of €34 million could be drawn down over the next 18 months.