Conference hears renewable energy could be worth €3.8bn to Irish economy

RENEWABLE Energy could be worth €3.8 billion to the Irish economy by 2020 as the EU moves to generate 20% of itsenergy from renewables, according to the National Offshore Wind Association of Ireland (NOW).

Renewable energy is also expected to support 2.8 million jobs across Europe by that time.

EU Commissioner Andris Piebalgs told the NOW Conference in Dublin: “Ireland should be acting now to capitalise on their resources offshore.”

The EU Commissioner forEnergy highlighted the success of the green sector in Denmark and Germany. Exports of wind energy technology made up 7% of Denmark’s exports in 2008, totalling €6bn.

Bremerhaven in Germany has recorded €250m of inward investment in the regions ports and shipyards, many of which are being revitalised to serve the growth of the offshore sector in the region, he said.

He also pledged support for Ireland in its drive to use wind power to generate up to a fifth of Ireland’s energy needs.

Interconnection to the European energy market was vital for Ireland’s prospects of developing this sector.

And the Commissioner said despite the costs involved in building a grid infrastructure, Ireland “would not be alone” in that quest.

He said the EU has committed €110m to support the development of the Ireland Wales interconnector, a project which will enhance security of EU energy supply in the long run.

Ian Marchant, chief executive of Scottish and Southern Energy, the developers of Arklow Bank Wind farm, warned Ireland was in danger of losing out on major economic benefits if it fails to embrace the opportunities offered by wind power.

While Ireland has the resources, so far it has failed to develop the sector in any meaningful way, he said.

He said: “Ireland can produce at lower costs than other countries because of our wind resources but we are not getting it together,” he warned.

When Arklow was built it represented 5% of installed offshore power in the world.

Mr Marchant said now it is just a tiny fraction of global wind energy power and “at the current rate of progress developers will lose interest in this country and go elsewhere. Ireland will lose out on an employment opportunity of approximately 650 jobs per thousand megawatts if this happens.”

Minister for Communications Energy and Natural Resources Eamon Ryan said Ireland needed to address its energy supply.

This country “is too heavily dependent on gas for electricity generation” because gas availability will become a key difficulty going forward.

North Sea gas production peaked years ago and over 80% of our gas comes from that source, he said. “We must prepare for the inevitable future insecurity by switching to sources where insecurity is not an issue.”