Eamon Ryan (Dublin South, Green Party)

The Government is giving major priority to investment in research technology development and innovation in ocean energy. Realising our wave and tidal energy potential is of strategic importance in support of our renewable energy targets, security of supply and carbon emission reductions. It also has significant overall enterprise development potential, in terms of innovation and economic activity. Ireland's geographical position is considered virtually unparalleled in the world with regard to wave energy. In addition, the tidal stream conditions in the Irish Sea are considered to be of considerable potential.

In the context of achieving our 2020 renewable electricity target of 33% of electricity generated from renewable sources, it is vital that we develop all the renewable resources available to us. While wind energy will be the major contributor to renewable energy growth, the potential for solar, biomass and ocean energy technologies must also be rapidly progressed. I am firmly committed to accelerating delivery of the ocean energy strategy starting in 2008. We intend taking a range of measures which will include clear market signals in the form of a dedicated technology support price.

As announced on budget day, we are providing €5.3 million for ocean energy technology and development in the 2008 Estimates. The funding will be used to build on the existing work under way by Sustainable Energy Ireland, the Marine Institute and the hydraulics and maritime research centre in UCC. It will also support the scaling up by the private sector. Pioneering work to date has already seen the emergence of Irish ocean energy development companies. The existing ocean energy testing site, which is located off Galway Bay has witnessed the successful testing of prototypes.

We need to ensure a significant scaling up by companies of technologies and businesses. The next stage is to demonstrate full scale pre-commercial development of these technologies. Investment in the necessary facilities to support commercialisation is critical to achieving breakthrough. Ocean energy worldwide is still at the developmental stage with no commercially viable or reliable proven technologies as yet available. In terms of research activity in the sector, Ireland is among the four lead nations in Europe alongside the UK, Portugal and Denmark. We are also working within the International Energy Agency's ocean energy agreement to benefit from collaboration on a wide scale. The €5.3 million made available for 2008 will significantly upscale the national investment in ocean energy. I will be announcing full details of the ocean energy package early in the new year.

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