Oireachtas Joint and Select Committees

Tuesday, 16 May 2023

Joint Oireachtas Committee on Climate Action

Renewable Energy and Port Capacity: Discussion

Mr. Pat Keating:

Yes. There is already potential facility for public-private. We can create subsidiaries with the Minister's consent. However, even they may struggle because this is a very nascent sector. It is early stage. We need to get the run rates and be able to prove that - that kind of 300 MW or 400 MW per annum build-out, which gives a positive cost-benefit analysis, CBA, on one’s project, for example. More Government involvement, not direct funding but perhaps a sovereign debt model should be examined. I am not sure what that would look like but it needs to be considered under the new ports policy. There will be consultation open on that policy towards the end of the year and we will be making consultations on that front.