Mr. Martin Finucane:

On the climate action plan, as the Deputy said, it sets out a target for decarbonising our renewable electricity by aiming at achieving 70% renewable electricity by 2030. While the plan looks at increasing the amount of wind capacity onshore, it also includes a significant offshore target. There would be a minimum of 3.5 GW, which is 3,500 MW, of offshore development required to deliver that 2030 figure. As the Deputy pointed out, it is getting more difficult to get planning consents and public community support for onshore projects. As we find it increasingly difficult to deliver significant megawatts onshore, the amount of capacity we generate offshore is likely to go ahead at that target.

I think we are going to see a minimum of 3,500 MW delivered offshore by 2030.

Offshore projects require extensive economies of scale. By their nature, they are big projects. As Ms Graham pointed out, they are strategic infrastructure developments. The minimum figure for a commercial offshore wind farm is likely to be several hundred megawatts. An investment profile of 3,500 MW in the sea by 2030 envisages an overall minimum investment, including in the grid, of probably €8 billion to €10 billion by the time it is built. This is a significant overall investment in Irish waters over a decade.

What are we likely to see in local communities? Projects of this scale are big developments. Typically, they tend to be too big, even for the big European infrastructure companies to build on their own. Typically, we see such projects being built by a consortium of two or three companies. Developments in the Irish market typically involve big European partners coming in as partners of Irish development companies. We are likely to see a mix of developers. Given the scale of investment, the expertise involved and the technical challenge in delivering, these big companies bring considerable experience. Some have been involved in the offshore wind energy industry for a decade. Considerable experience has been gained in markets throughout Europe.

We are working closely with the Department of Housing, Planning and Local Government to ensure offshore renewable energy will feature front and centre in the planning structures in place. It is a key cornerstone of freeing up that investment profile and allowing the projects to proceed.

We are also conscious of the fact that decarbonising our electricity supply means coming off coal at Moneypoint by 2025. We will be coming off peat in the coming years too. As a result, all of that capacity has to be dealt with. The big offshore projects are important for us in the light of our ambitions. We are keen to have them at scale and as quickly as possible.