Mr. Tim Cowhig:

The opportunity we are exploring is an enabling project. There are huge opportunities offshore to build for hundreds of megawatts. While offshore development is expensive and there are commitments from the industry to reduce the cost of offshore technology, therein lies an opportunity for Ireland, if we want to take it. Ireland has to decide whether it wants to do this. There is a benefit in considering this opportunity. Blue energy is the way of the future. There will be many opportunities there but it is not commercial now. The costs of offshore development are being reduced and we are considering the opportunity for commercial development in wave and tidal energy.