The development of offshore wind energy is due to play a key role in meeting Ireland’s renewable energy targets.Ireland is at a critical juncture in attempting to put in place the right circumstances – a mix of policy, regulation and timely issuing of contracts through auctions – for multinational renewable energy companies with big offshore wind energy ambitions to locate in Irish waters.
The risk, however, is that delays on commitments and unacceptably long and unpredictable timelines on infrastructure delivery – often linked to a poorly functioning planning system – will lead to investor uncertainty and multi-billion euro funding going elsewhere. Some companies eyeing Ireland contend that this is already happening and that such is the competition it will be difficult to entice investors back.