Mr. Martin Finucane:

I can confirm that Moneypoint is due to cease operation by 2025. It is already suffering from reduced running in the market, largely due to the price of carbon and the emissions trading system, ETS, which is making coal uncompetitive in the wholesale market. There are just transition proposals in place. As the Deputy notes, the budget outlined one for the midlands. Ireland was accepted as a member of the European coal transition platform earlier this summer. We are in the process of engaging actively with several Directorates General of the European Commission to set up the EU country team which will engage with different Departments and local authorities in Ireland to assist with planning the just transition process.

The target is 70% dependence on renewable energy by 2030. There is certainly potential for future generation at the Moneypoint site. The company is looking at options for the future development of the site. It has huge advantages. The two 400 MW lines are by far the biggest lines crossing the country. They are very valuable.

The existing offshore fixed-pile turbine technology is likely to develop on the east coast because of the depth of the water. They are traditionally the most competitive technologies. At present they are typically deployed in waters of up to 50 m in depth. The west coast is likely to see the next wave of offshore technology, the floating turbines Deputy Naughten referred to earlier. They can operate in deeper waters and with much larger individual turbines.

Deputy Harty asked about the capacity to develop a manufacturing centre for turbines. The necessary land is certainly there, but whether to do so would be a commercial decision for a company. I should point out that turbine manufacturers have struggled to find the scale to operate even in bigger markets such as the UK. It would be economically challenging to manufacture turbines at Moneypoint. There are certainly terrific research and development opportunities there given the range of opportunities for tidal technology, particularly wave energy and floating offshore platforms on the west coast. Using the capacity there for research is certainly one option. The ESB, which currently operates Moneypoint, operated WestWave, a big wave energy research project in that area until several years ago. There is some relevant experience on the site or very near to it.