General views of the Intel campus in Kildare projected on screen at the official opening of Intel Fab 34 at Leixlip. IDA Ireland gave Intel €30 million last year as part of an aid package for companies whose energy bills spiked after Russia’s invasion of Ukraine, new data shows. Photograph: Alan Betson / The Irish TimesIDA Ireland gave Intel €30 million last year as part of an aid package for companies whose energy bills spiked after Russia’s invasion of Ukraine, new data shows.
As part of the scheme funds could be applied for by companies from Enterprise Ireland, Údarás na Gaeltachta, the Local Enterprise Offices and IDA Ireland.An attempt to buy the next election with a giveaway budget would be a gross miscalculationIndividual recipients of support were limited to a maximum total of €50 million, according to the details of the scheme, which ended in December 2023.
It is not clear what other companies, if any, benefitted from the scheme. When contacted a spokesperson for the IDA said that the agency “does not comment on individual client companies”. Intel was also granted hundreds of millions of euro worth of refundable tax credits by the Irish Government last year as part of its expansion of its enormous manufacturing facility in Leixlip.
Meanwhile, the company is looking to raise around $2 billion to help it with the construction on the Irish facility, according to reports by Bloomberg, which stated that Apollo Global Management, KKR, and Stonepeak had been approached in relation to a joint venture investment in the project.