Offshore renewable wind energy could enter market by 2026 — Eamon Ryan
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Offshore renewable energy could begin entering the Irish market by the end of 2026 when it will have a “significant” impact on the cost of energy for households, according to Environment Minister Eamon Ryan.
Mr Ryan conceded it would take "some time" for energy costs to decrease in light of the announcement that four planned wind farms located on the east and west coasts were successful in Ireland's first auction for the generation of electricity from offshore wind.
“Offshore renewables will start coming into the Irish market by the end of 2026/2027, in that sort of period,” he said, before adding each project would have “slightly different” timelines.
Until then, the Government was “keeping pressure” on energy companies amid “very high” energy prices, he said.
“We are keeping pressure, talking to other companies to make sure that in the interim period, we do everything to try and reduce the price of bills,” he said.
Mr Ryan said the €9bn investment was the first of a series of investments, with other auctions due early next year and in 2025 which would lower costs.
The Green Party leader said the use of offshore wind energy would not only mean affordability for Irish households but would also create new jobs and allow for the export of excess power.
he said.
He added that, regardless of inflation, the lower prices would “stay steady”.
Speaking on RTÉ’s , Mr Ryan said: “It gives us real confidence that we can actually say, not just for consumers, but also for businesses in this country, we know it is this price for the next 20 years,” he said.
Mr Ryan said the move was significant as it would take Ireland away from its reliance on fossil fuels and distant “regimes”.
“That gives us the potential to have an alternative supply. So we're not at the behest of Putin or any other distant regime in terms of what our energy security and future in terms of price is,” he said.
Separately, when asked if congestion charges may be introduced down the line, the Transport Minister said: “Possibly, in the future, but I don't think they’re a first response. I don't think it's the fundamental correct approach. I think what we need to do is make sure the public transport offering is better."
Last month, Taoiseach Leo Varadkar said the controversial charges, which could see drivers charged for driving into certain areas, would not be introduced under the current Government or “in the near future”.
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