Ireland losing investment because of slow progress on offshore wind projects, Limerick Chamber warns
The slow pace in progressing multibillion Irish offshore wind projects is leading to investment in clean energy and critical skills going to other European countries, according to Limerick Chamber of Commerce.
Speaking on behalf of businesses across the midwest and west of Ireland, chamber chief executive Michelle Gallagher has called for immediate action by the Government and clear timelines around development and delivery of designated maritime area plans (DMAPs) 'to unlock the immense floating offshore renewable energy potential available in the Atlantic'.
The Government also needed to 'prioritise floating offshore wind as a cornerstone of Ireland's clean and energy secure future', she added.
The chamber with prominent businesses based in the Shannon region has been calling for full implementation of the 2024 Shannon Estuary Economic Taskforce report, which recommends establishing a renewables hub in the Shannon estuary to support offshore wind farms, with nearby industry including data centres availing of green power.
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'We are at a critical juncture,' Ms Gallagher said, 'We must act now to build investor confidence, diversify our energy sector and seize Ireland's Atlantic opportunity ... If we are serious about achieving our climate targets, decarbonising our economy and building energy security, then the west coast must not be left behind.
'Floating offshore wind represents Ireland's single biggest renewable opportunity but that opportunity is slipping away without DMAPs and a timeline industry can rely on,' she added.
Minister for Energy
Darragh O'Brien
last month got Cabinet approval to accelerate offshore renewables development through designating additional zones for offshore development, known as the 'National DMAP'. He has said Shannon Foynes Port would be at the forefront of Ireland's offshore energy development, including floating offshore wind.
A new 'climate investment clearing house' is to accelerate progress, while Taoiseach Micheál Martin announced a joint Government-industry forum on offshore renewable energy would be convened 'to scope out the role of the clearing house and how we can best progress delivery of Ireland's offshore renewable energy objectives'.
The west coast of Ireland has been identified a location for generation of up 70 gigawatts (GW) of clean electricity using floating technology.
Unlike fixed-bottom offshore wind, which is limited to shallower waters and predominantly suited to the east coast, Ms Gallagher said floating offshore wind unlocks deeper, high-wind areas further offshore – 'a perfect match for the west's natural maritime conditions'.
Timely delivery of west coast DMAPs was not only a planning necessity but a confidence-building milestone for industry stakeholders, she said. 'Investors and developers need certainty. Delays send the wrong signal and risk displacing capital to other jurisdictions.'
Mrs Gallagher said 'slow pace of delivery in Ireland is ensuring we are losing out on investment and critical skills to other European countries'.
She said France has already issued winning tenders for its 250 megawatts (MW) Pennavel project off Brittany, while Portugal has 25MW of installed floating capacity since 2020.
The Brussels-based EFTA Surveillance Authority had approved Norway providing state aid to its floating offshore wind farm at Utsira Nord, delivering 1.5GW of floating offshore wind capacity, she noted.
'France, Norway and Portugal have already pilot and demo-scale projects operating. Meanwhile Ireland has none. Spain has launched a €200 million fiscal war chest to bring forward testing platforms, build new infrastructure as well as adapting port infrastructure,' the chamber chief said.
The UK had one of the largest floating offshore wind initiatives in the world, aiming for up to 4.5GW of floating renewable energy, Ms Gallagher said.
EU neighbours, particularly in France and Spain, were also investing in ports to support the sector with a view to delivering the broader economic and energy diversification advantages of floating offshore development.
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