Eamon Ryan (Dublin South, Green Party)

As already stated, approximately €1 million. Everyone would like to see all the money being spent. The primary reason it was not was the delay in setting up the ocean energy unit. This is a ten-year timeframe that was set out about three years ago in our ocean energy strategy. It was set out in four quarters, with the first quarter to be reviewed at the end of 2007. It was on that basis that we decided we would move to the next phase, just prior to commercialisation, in January. Crucial in this was the setting up of the ocean energy unit, and while I regret the delay, I feel we have set up the unit with the right people. This is a crucial development which will allow us to spend money this year and catch up. We need to catch up because this is an area in which there is major potential. While I regret the delay in setting up the unit and the consequent inability to spend the various budgets, I believe we have got the unit and the strategy right, and the money will be spent this year or next to allow us to catch up.

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