ESB and Ørsted sign landmark deal for Irish offshore wind development

The contract has the potential to deliver up to five gigawatts (GW) of renewable energy and complementary renewable hydrogen projects, and the first of these offshore wind projects are expected to compete in the next Irish offshore wind auction, ORESS 2.1.

The contract marks the most ambitious partnership in Ireland to date as Ørsted becomes a 50/50 partner in a pipeline of offshore wind development projects off the Irish coast. Pic: Neil Michael 

The country’s largest electricity provider ESB has signed an agreement with renewable energy multinational Ørsted to develop an Irish offshore wind portfolio in a landmark deal.

Ørsted is now a 50% partner in a pipeline of offshore wind development projects off the Irish coast, which were until now held exclusively by ESB, under the agreement.

“With a strong Irish onshore portfolio already in place, we are delighted to begin our journey in the Irish offshore market with ESB; the company that brought electricity to Ireland, and that today plays a leading role in the path to net-zero,” said Duncan Clark, senior vice president and head of UK and Ireland at Ørsted.

The deal has the potential to deliver up to five gigawatts (GW) of renewable energy and complementary renewable hydrogen projects, and the first of these offshore wind projects is expected to compete in the next Irish offshore wind auction, ORESS 2.1.

Seven projects are included in the mutli-billion euro deal, subject to future government policy and maritime zoning.

These projects are the Sea Stacks Offshore Wind (800MW) development off the coast of south Dublin and north Wicklow, the Helvick Head Offshore Wind (800MW) off the Waterford coast and the Loch Garman Offshore Wind (800MW) off the Wexford coast.

Phase one of the Celtic Offshore Wind One (700MW) farm off the east of Cork and the south of Waterford as well as phase two of the Celtic Offshore Wind Two (800MW), south of Ballycotton and beyond the 12 nautical mile limit, are also included in the deal.

The last two projects in the agreement are the Moneypoint Offshore Wind One (400MW) and the Moneypoint Offshore Wind Two (1,000MW) off the west coast of Ireland.

Ørsted has already established a strong foothold in the Irish renewable energy market with several onshore wind investments prior to developing offshore projects around the coast of Ireland. The company previously built the world’s first offshore turbine in Denmark in 1991 and the world’s largest operational offshore wind farm, Hornsea 2 in the UK.

“This is a key moment in the development of the country’s offshore wind sector and offers a huge opportunity to fully exploit our geographical position, enable greater energy security and independence, drive forward our climate targets and boost our economy,” said Conor Healy, Cork Chamber CEO.

Leading law firm McCann FitzGerald advised the ESB on the deal.