Clann Credo Support CRES – July 2018
A milestone of €100 million investment in Ireland’s community and voluntary sector was reached today (Thurs July 5th 2018) by Clann Credo – Community Loan Finance. The occasion was marked with a cheque presentation by Mr Paschal Donohoe, TD, Minister for Finance and Public Expenditure and Reform to Tipperary-based CRES (Community Renewable Energy Supply).
Speaking at the cheque presentation, Clann Credo CEO, Paul O’Sullivan said “Clann Credo operates on the principles of equality, inclusivity and empowerment. Communities are best placed to identify their own needs. CRES in Tipperary is an excellent example of such a model, both increasing renewable energy production and assisting local communities by keeping the energy spend within their local area.
Gregg Allen from CRES said ‘It is clear that communities have a vital role to play in the transition to a low-carbon economy. We are delighted that Clann Credo is committed to supporting this work. CRES offers a sustainable, community-owned alternative to existing power supply companies whilst encouraging communities to take some of the responsibility as well as reaping the benefits of renewable energy generation’.
CRES provides a mechanism for small renewable energy generators to access and sell electricity into the national grid. It gives business and domestic customers the opportunity to purchase their electricity from a community-based renewable energy generator. CRES seeks a triple bottom line, supporting communities, a cleaner environment and value for money.
CRES currently supplies renewable electricity to a range of customers including residential, community facilities, commercial and local businesses and the farming community. The company is now expanding, and Community Loan Finance from Clann Credo gives CRES the working capital it needs to grow and offer consumers a genuine sustainable choice and to become a large supplier in the energy supply market by 2020.
Specifically focusing on community oriented solutions, CRES has aligned with a number of National and European projects, to research and develop new technologies within the energy sector such as ‘smart grids’ and ‘community virtual power plants’. These affiliations include research projects secured through the Sustainable Energy Authority of Ireland (SEAI), the International Energy Research Centre (IERC) and INTEREG North-West Europe.
We were delighted to exhibit at the 2nd Energy in Agriculture Event which took place in Gurteen College on August 22nd, 2017. We got the opportunity to speak to farmers about our company and also met with Minister Denis Naughten.