Bank of Ireland joins the renewable energy jobs jamboree

Renewable energy is proving to be something of a much-need source of recruitment for financial professionals in Ireland lately, and Bank of Ireland's decision to assemble teams dedicated to the sector and earmark €200m for project finance deals is another sign of its potential.

BoI has launched a €100m fund for investment into renewable energy products in Ireland, and has put together teams within both corporate and business banking to work on projects around things like wind farms, water and waste management.

The fund is the first in a series of initiatives, to eventually total €200m, aimed at reducing Ireland's carbon footprint.

It helps that the government gave it a nudge in the right direction, but BoI insists it sees great potential in this sector. And it's not the only one.

Avis Mulhall, senior consultant at the Premier Group, says she's seen a great deal of recruitment in this sector over the last six months.

"The renewable energy sector has emerged as a massive growth area in the latter half of 2008," she says. "This trend seems to have emerged as a direct result of tax breaks being granted for companies operating in these sectors coupled with a general increase in awareness globally that renewable energy will be a necessity for the future."

Robin Craig, director at recruiters Careers Compass believes that the energy companies themselves are attempting to attract candidates away from financial services for corporate finance and analyst roles.

The feeling's mutual, he says: "Candidates want to move into this dynamic, expanding sector which is going through growth on a global scale."