Two Irish companies will be involved in the development of over 16GW of offshore wind in the next round of development in UK waters.

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).

THE National Offshore Wind Association of Ireland (NOW Ireland) has welcomed the announcement of a new 40% renewable energy target by the Government, and claimed this figure is achievable if the generating capacity available from the deployment of larger offshore wind projects is harnessed.

AIRTRICITY, the Dublin based renewable energy firm, has entered the Irish electricity and gas supply sector and is targeting a 15% share of the Irish market by 2013.

WIND power promoters have received a major boost after the Government set guaranteed prices for any electricity they produce for the next 15 years.

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