Oireachtas Joint and Select Committees

Tuesday, 16 May 2023

Joint Oireachtas Committee on Climate Action

Renewable Energy and Port Capacity: Discussion

Mr. Pat Keating:

The finance piece is being developed and is evolving but for the Shannon Foynes Port Company, we have looked at potential funding and finance methodologies and strategies. It is early days and we have opened discussions with the Department to look at certain funding methodologies. These projects, and certainly the projects we have in our masterplan, are commercial propositions but it is around that early stage piece and the securing of that run rate. Once one starts producing or having a throughput which is acceptable to the project, where in our terms it is probably up to 300 to 400 MW per annum and the producing of 25 turbines on the jetty front, approximately; one then has a commercial proposition. That, by the way, means approximately 10 GW by 2050 of windfarm energy and that is not very significant, by any means.

Getting that first phase and certainty is important. That is where we believe that some State intervention, perhaps not in direct funding but in some sort of-----

Comments

No comments

Log in or join to post a public comment.