County Tipperary is to benefit from a portion of an allocation of approximately €169M in funding to the wider midlands region through the Just Transition Fund. The Cabinet today approved the proposal from the Energy Minister Eamon Ryan as Ireland moves away from fossil fuel production and consumption with a number of power generation plants closing and Bord Na Mona Peat extraction plants ceasing to operate.
These funds will be used to address the employment, economic, social, and environmental consequences associated with the transition away from peat production and peat-based energy generation. Over the next decade, the investment will be directed toward the Midlands Region and North Tipperary in order to create new green jobs, promote enterprise, increase sustainable tourism, restore damaged peatlands, and mitigate the economic repercussions of the transition to climate neutrality.
The European Commission is expected to formally endorse the EU JTF Plan and Program next month and further information will then be released. The news has been welcomed by Tipperary TD Michael Lowry.