Ireland pledges safety net for offshore wind

The guaranteed price will be Euro 1,403 per megawatt hour, and the move follows a similar plan introduced for onshore wind farm generation.

In a statement, Energy Minister Eamon Ryan said: “Now, investors can be confident when they invest in offshore wind. Without it [a support price] we would not be able to attract any investment into Ireland.”

Renewable energy development is vital for Ireland’s future economy, as the country currently imports almost 90% of its fossil fuel needs.

“Ireland needs to reduce our fossil fuel import bill and our dependence on imported energy sources,” Ryan continued.

“Renewable electricity is a critical cornerstone.”

Separately, Irish Labour politician Liz McManus has criticised Ryan for not doing enough when setting renewable energy targets.

She pointed out that a recent study showed that he could have gone for a 42% by 2020 target instead of the 33% target he actually set.

Ben Meggeson