Irish onshore wind sector eyes €5bn investment boost 

Ireland 'should have no trouble' attracting the funds to double its land-based wind energy capacity

The new report by Wind Energy Ireland and KPMG says the sector could be worth €550m per year to the economy by 2030, and could support some 7,000 jobs.

Ireland should have “no trouble” in attracting necessary investment — estimated at €4bn to €5bn — to double Ireland's onshore wind capacity and boost the country’s chances of meeting its 2030 renewable energy targets.

In nine years, the aim is for 70% of energy on the national grid to be derived from renewable sources.

The development of an offshore windfarm network, currently at a standing start, and a more advanced onshore market, will be central to that.

'€550m per year sector' 

In a report on the economic impact of onshore wind in Ireland, Wind Energy Ireland and KPMG said the sector could be worth €550m per year to the economy by 2030, and supportive of 7,000 jobs.

Onshore wind is currently already worth around €400m per year to the economy.

KPMG's head of sustainable futures Russell Smyth said Ireland should have “no trouble” attracting extra onshore wind development capital if the country’s policy environment remains welcoming. 

'Spending with a conscience'

He said investors are increasingly spending with a conscience and investing in green targets, adding that Ireland has been very successful in attracting such capital in the past.

A mix of existing onshore wind players and new market entrants are expected to invest in Ireland.

Wind Energy Ireland acting CEO Noel Cunniffe said: “If we deliver the target set out in the Climate Action Plan, it will mean more jobs, more investment, and stronger communities across the country.

We know we have the pipeline to deliver 4,000MW of onshore wind by 2030 and this report shows that every new wind farm we build will pay mortgages, fund childcare, and support local businesses. 

43% of Ireland's energy

Onshore wind currently accounts for 43% of Ireland’s energy, and there are 4,200 megawatts of capacity through existing wind farm projects.

The aim is to nearly double that output to 8,200 megawatts by 2030. 

Additionally, there are 10 gigawatts of onshore wind power projects in pre-planning stages, 1gw in the planning system, and 1.7gw approved and due to come online in the next couple of years.