Firms invest €4bn in offshore wind projects

Offshore wind energy developers have €4bn worth of offshore windfarm projects at an advanced stage of development.

The projects will generate over 2,000MW of renewable energy.

The announcement was made by the five largest offshore wind companies in Ireland at the launch of National Offshore Wind Association of Ireland, a new organisation to promote the development of the offshore wind industry in Ireland.

"Offshore wind has the capability to generate large volumes of electrical power from green, renewable and indigenous resources. Offshore wind is unique in offering the capacity to deliver substantial volumes of power on a scale that no other renewable can match and to do so in a short time scale," Brian Britton, Secretary of NOW Ireland said today.

"However, investment is currently being hampered due to the lack of a clear and coherent Government policy on offshore wind. This stands in marked contrast to other countries throughout the EU, that have actively promoted offshore wind as a key component of their energy strategy."

The founding members of NOW Ireland are Airtricity, Oriel Windfarm Limited, Eco Wind Power Limited, Fuinneamh Sceirde Teo and Saorgas Energy Limited.

Each of these companies has developed plans for offshore fields in Irish waters.