This Order brings into operation the provisions of section 51 of the Finance Act 2007. This section extends the qualifying period for relief under section 486B of the Taxes Consolidation Act 1997 to 31 December 2011.
Section 486B TCA 1997, provides tax relief for corporate investment in certain renewable energy projects, including those successful in the Alternative Energy Requirement competitions. To qualify for the relief the energy project must be in the solar, wind, hydro or biomass technology categories. The investment in respect of which relief can be given is capped at the lesser of 50% of all capital expenditure or €9.525 million for a single project. Investment by a company or group is capped at €12.7 million per annum and unless the shares are held for at least 5 years by the company the relief will be withdrawn. Full details of the order are available here