Rónán Mullen (Independent)

The European Commissioner, Máire Geoghegan-Quinn, pointed out recently that when we take in Ireland's maritime territory, we could be considered to be the third largest country in the European Union, with the continental shelf around our island being one of Europe's largest seabeds. She stated that although much remains undiscovered, this underwater land mass presents vast opportunities for the Irish economy and places Ireland in pole position to be at the cutting edge of marine innovation.

In fact, we can consider ourselves to have a maritime territory of 220 million acres. The seas around Ireland provide the country with significant renewable energy potential from wind and wave power. Offshore wind energy projects use similar technology to onshore wind energy projects but there are some crucial differences. They deliver higher load factors, offering between 1.5 and two times the efficiency of onshore wind energy projects. That is due to the higher wind speeds at sea. Offshore wind turbines typically have a higher electricity output, with turbines of 5 MW capacity now in production, and larger turbines of up to 10 MW capacity in development. That would compare with an average turbine capacity of around 2 MW for onshore wind turbines. However, it should be pointed out that offshore wind farms require heavy State subsidies to be economically viable, although this may change as costs decrease owing to cheaper technologies and greater expertise in the construction of plant.

A Marine Institute report predicted that the development of the wave and tidal energy sector could lead to the employment of 1,125 people by 2020 and be worth €227 million to the economy. While these figures may seem small, it should be remembered that the sector is at a very early stage in its development and there are as yet no proven technology leaders in it. There is a real opportunity for Ireland to take a lead in its development and replicate Denmark's success as a leader in the wind energy sector. As the Marine Institute points out, Denmark has been the driver of the modern wind energy sector since 1976. Danish wind turbine manufacturers hold a world market share of approximately 40% and have a combined turnover of almost €3 billion, while the industry employs 20,000 in Denmark alone. There is a real opportunity for Ireland to replicate Denmark's success in the wave and tidal energy sector.

Onshore there is potential to develop the biomass sector. We have one of the best climates in the world for producing biomass and, theoretically, we could produce enough bio-fuels to replace all of our imports, although that would mean covering most of the country in willow and I cannot see that happening any time soon.

Proposals to develop Ireland's energy resources using the Spirit of Ireland template are robust and evidence-based and can be financed from external sources. I compliment other Members, including Senator Butler, for raising this issue on numerous occasions. This could provide Ireland with carbon-free renewable energy that could transform the economy from the perspective of both foreign investment and domestic industries. Projected revenues after six years could be of the order of €60 billion per year.

Desperate times call for desperate measures, or, to put it more positively at a time of crisis, in am na géarchéime, tá géarghá go ndéanaimid tréan-iarracht chun ár dtír a thógáil as an ghéarchéim ina bhfuil sí; beidh géarghá le smaointe úra le dul i ngleic leis na fadhbanna atá romhainn. We need creative and radical thinking which could include a careful and sustained look at the proposals made in respect of the Spirit of Ireland template. I hope they will lead to a brighter future for the country.