Ministers welcome passage of the RHI Bill through its Final Stage in the Assembly

In a statement Diana Armstrong said: “Closing the RHI scheme is a necessary step, but it must be the first step in a much larger journey.

"Accepting closure is not an admission of defeat, it is an acceptance of reality and an opportunity to move forward.

"I want to acknowledge those boiler owners who participated in good faith and were penalised by a scheme that was badly designed from the outset.

"They deserved better, and I trust that the Committee's efforts to recognise the need for restitution will be of some comfort.

"The closure of RHI opens the door to the Renewable Energy Price Guarantee scheme, which must be designed with proper scrutiny, robust modelling and transparent governance.

"But a new scheme alone will not be enough.

"Northern Ireland urgently needs a credible renewable energy policy framework, one that addresses grid capacity, offshore wind and long-term energy planning.

"Investors are already looking to jurisdictions with clear pathways for clean energy expansion. If we do not act quickly, they will go elsewhere. Let us ensure the mistakes of the past are not repeated and the opportunities of the future are not missed."

Also welcoming the closure of the RHI Scheme by Economy Minister Caoimhe Archibald, Sinn Féin MLA Pádraig Delargy said: “It’s positive news that the RHI Scheme will finally close.

“Under a DUP Minister this botched scheme incentivised participants to earn by burning scarce public money.

“Now a Sinn Féin Minister is bringing this debacle to an end; with transparency, oversight and value for money.

“Closing RHI does not mean walking away from renewable heat or future support schemes.

“It means learning from what went wrong, so that any future programme supports businesses to make the transition to cleaner and greener energy.”