TAMS 3: Some Positive News?

There was some more positive news coming from the Department of Agriculture, Food and the Marine this week. According to a recent update, the issuing of approval letters under Tranche 1 of the Targeted Agricultural Modernisation Scheme (TAMS 3) has now commenced. 

Letters are currently being issued in relation to the Solar Capital Investment Scheme, with approvals for other TAMS schemes expected to follow in due course. Commenting on this development, Minister Charlie MacConalogue pointed out that the solar scheme has its own ring-fenced investment ceiling of €90,000 and is grant-aided at 60%.

What is the Solar Capital Investment Scheme?

The Solar Capital Investment Scheme offers farmers the opportunity to generate solar power on their own farms, thereby making their holdings at least partially energy self-sufficient. It need hardly be stated that this is an attractive proposition, given the severe fluctuations in energy prices we have witnessed over the last couple of years.

Mobile Approvals to issue first

According to a statement released by DAFM, mobile approvals will issue more quickly than approvals for fixed investments, as the latter require more rigorous checks. The current timeline suggests that approval letters for fixed solar investments will issue in January, 2024 (next month). According to this timeline, initial engagement with all applicants will have taken place by April, 2024. 

A system that will allow farmers or their advisors to submit payment claims will also open in January 2024.

Timeline of TAMS Approvals

The table below provides an overview of when farmers can expect to receive an approval letter under each of the various TAMS schemes:

Closing Date for TAMS Tranche 2

Minister MacConalogue has also confirmed that the closing date for the current Tranche of TAMS 3 (Tranche 2) is Friday, 15th of December at 5pm. Tranche 3 of the scheme is expected to open on Monday, 18th of December. According to the Minister, the decision to close Tranche 2 was taken so that applications received since the opening date in July can be processed more efficiently. This, the Minister pointed out, would allow applicants to have works carried out in 2024 in a timely manner.

In more positive news, the Minister stressed that all eligible applications under TAMS Tranche 2 would be approved, as was the case with Tranche 1. 

“Farmers who applied for mobile investment may proceed with that investment at their own risk,” Minister MacConalogue added.