The new RHI Regulations have now been affirmed by both Houses of Parliament. They are set to come into force on 22 May 2018 and therefore the process for applying for tariff guarantees will open for applications at 10am on 22 May.
The regulations reset the tariffs to June 2016 levels (inflation adjusted) and make a number of changes, one of which is the introduction of the tariff guarantee (TG). Tariff guarantees will apply to a number of technologies including biomass (>1MW), biogas (>600kW), new solid biomass CHP and biomethane.
The TG is a welcome addition for the industry, as it provides certainty of both eligibility and tariff. Our guide, A moving target: the RHI reset and tariff guarantee, examines what is required to benefit from the tariff guarantee, as well as its implications for project programming. In particular, we examine the implications of the 3-week period for achieving financial close, and how the new regulations define ‘financial close’.