Denis Naughten (Roscommon-Galway, Independent) | Oireachtas source

The Government is expecting to run a surplus of €10 billion this year in the public finances and a further €16.2 billion surplus next year. This money should not be locked away into a long-term fund serving the strategic interests of other countries. Part of this surplus should be invested in infrastructure that unlocks the massive economic potential that we have in our offshore renewable electricity sector. For example, by 2037 it is estimated that there could be 5,400 jobs supported in the Atlantic region through offshore wind development, with a financial dividend of €4.2 billion. This is according to a study funded by Enterprise Ireland. It will only happen with a clear signal from the Government setting out specific targets for the installed capacity of offshore wind post 2030. Targets to 2050 exist but they are not specific. We should set aside part of the €26.2 billion to support critical electricity grid infrastructure off our coast and to aid significant upgrade works at our ports. Currently, Belfast is the only suitable port on the island of Ireland for the development of offshore wind energy. We cannot simultaneously build multiple offshore wind farms from a single port.

The Minister will respond by stating the Government has set up the offshore wind delivery task force to deliver our offshore wind ambitions. From my experience, such cross-departmental task forces only work when the Minister sits at the table. With all due respect to the Minister, Deputy Ryan, who is effectively running three Departments, co-chairing the International Energy Agency and keeping an eye on the Taoiseach and Tánaiste and the shenanigans within the Green Party, he cannot do everything. Is it any wonder he grabs 40 winks here in the Chamber when he can?

The most effective way for Ireland to take a leadership role in the offshore renewable energy sector is to establish an offshore renewable development authority similar to IDA Ireland and something that was adopted unanimously by Dáil Éireann in December 2021. This new authority would drive a fully co-ordinated national action plan and would have responsibility ranging from research and development through to supply chain and commercial deployment of renewable energy, ensuring that Ireland becomes the leading global clean energy exporter. Last week President Biden said Ireland's famous 40 shades of green are being supplemented by green energy, agriculture and jobs. We can make this a reality if we lead directly from the front through the office of the Taoiseach. That is the type of strategic leadership that is needed to deliver on what President Biden outlined here last week.

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