Taskforce aims to double number of tourists to Shannon Estuary by 2030

According to the report, the estuary would also become a hub for sustainable transport technologies and a western “digital gateway” to Europe.

It proposes significant investment in the ports at Foynes and Moneypoint, a new auction for floating wind generation in 2024 and identifying industrial sites for clean energy industries like hydrogen.

Its vision is for the delivery of 2GW of offshore wind by 2030 and 30GW by 2050, satisfying both the domestic demand and also export demand to Europe. 

Investment

The report points out that 30GW of floating offshore wind could attract direct and indirect investment of €60bn to €90bn if integrated with current and new downstream industrial and domestic usage. 

A recent study estimates upwards of 5,000 jobs would be directly supported through the design, construction, and operation and maintenance of this pipeline up to 2050.

A tourism subgroup of the taskforce is to identify actions that can harness a 100% growth in tourist numbers to the region by 2030.

The Adare Manor Limerick Ryder Cup 2027 will showcase the region to hundreds of millions of international viewers with considerable spending power and will be leveraged to encourage greater visitor numbers.

On the publication of the report, Taoiseach Micheál Martin said the significant potential of the Shannon Estuary area to stimulate sustainable economic growth not only for the region, but for the country was very clear.

Taskforce member and Limerick Chamber CEO Dee Ryan said the announcement of a new auction for floating wind generation in 2024 would send positive signals to the market.

Shannon Foynes Port Authority chief executive Pat Keating said the report was an emphatic and welcome vote of confidence in the transformational potential of the estuary as a global renewable energy hub. He said:

We have a lot of work to do to make it happen, not least through investment in road, rail and port infrastructure. 

"However, the backing today from Government is a huge and essential statement of intent that we very much welcome."

Mr Keating said the regeneration of the Limerick to Foynes rail line along with the Adare to Foynes road were key transport links essential for delivering on the opportunity for the estuary. 

Noel Cunniffe, CEO of Wind Energy Ireland also welcomed the report. 

"The enormous offshore wind power off our Atlantic coast will help meet our own energy needs while building a thriving offshore renewable industry which will create jobs, revitalise coastal communities and attract huge investment to the Shannon region," he said.

The Shannon Estuary Economic Taskforce was set up by Enterprise, Trade and Employment Minister Leo Varadkar last April. 

Its terms of reference are to examine the important sites, the region’s infrastructural and investment needs and specify the actions required from national and local government, as well as from other stakeholders, to exploit those areas of potential.

'Crossroads' on climate change

Environment Minister Eamon Ryan said the report showed not only the benefits of harnessing the estuary's resources in an environmentally friendly and sustainable way but the urgency of doing so.

“Ireland and Europe are at a crossroads in terms of our response to the climate crisis.

"The Shannon Estuary has a proud history of leading innovation in energy; the Ardnacrusha hydro-electric power station was a truly ambitious project almost 100 years ago.

"We now look to the estuary for our next major energy transformation, and today’s report begins to map out the estuary’s response."

Taskforce chairman Barry O'Sullivan added: “The interim report marks a significant milestone in the work of the taskforce.

"It outlines a clear vision for the Shannon Estuary region and signals the national and European issues that we believe the region can help solve."

“I very much look forward to engaging further with all involved as we finalise our recommendations."