Government working on offshore wind harbour package for Cork

Aiming to overcome Port of Cork's €70m funding gap to build new port facilities 

The Port of Cork facilities in Ringaskiddy, Co Crk. The company holds planning permission to extend these. Pic: Larry Cummins

Finance Minister Michael McGrath has said the Government is working “very closely” with the Port of Cork Company to put together a much-needed package to alleviate the firm’s €70m funding gap.

Speaking to the Irish Examiner, Mr McGrath said the Irish Strategic Investment Fund is “engaging intensively” with the Port of Cork to form a funding package from several sources that will enable them to develop the infrastructure necessary to facilitate offshore renewable development.

It comes as family-owned logistics firm, Doyle Shipping Group opted not to go ahead with plans to redevelop the dockyard facility in Cork Harbour to service offshore wind projects.

The Dublin-headquartered firm announced plans earlier this year to redevelop the former Verolme dockyard near Cobh as a port infrastructure hub for developers of offshore renewable energy (ORE) projects. The multimillion-euro development was labelled the Cork Dockyard Rejuvenation Project (CDR).

Ireland has a target of 37GW of offshore wind by 2050 so there is an urgency to complete major infrastructure projects as Ireland aims to utilise offshore wind power to reduce our dependency on fossil fuels.

The 15-hectare Cork Dockyard site was earmarked to provide new berths and a large open area suitable for the temporary storage of wind turbine components before their installation offshore.

Mr McGrath said he respected the commercial decision by Doyle Shipping Group to not go ahead with its plans, adding: “The Port of Cork is out in front on this one because they have the necessary consent and planning permission for that infrastructure in Ringaskiddy.

“We want to see that happen and we are working very closely with them.” The Port of Cork Company is the only port in the Republic with planning permission to build the infrastructure for offshore wind by extending facilities at Ringaskiddy, but this planning expires at the end of next year.

Speaking to the Irish Examiner last week, Conor Mowlds, Chief Commercial Officer of the Port of Cork Company said its upcoming planning deadline at the end of next year adds further pressure to its operations, with the company now relying on the commercial sector to secure funding.

"We are disappointed that Doyle Shipping Group pulled out at this stage. A joint offering between us would have made Cork Harbour hugely attractive for offshore wind. However, it is absolutely understandable given the uncertainty in the market."

Mr Mowlds warned the Port of Cork now faces a €70m funding gap as it seeks to develop its own offshore wind infrastructure.

“ISIF is working now with the Port of Cork in a positive way to identify a way forward and ensure that we can put a funding plan in place to allow that development to happen,” Mr McGrath said.