Orsted eyes ‘huge’ potential of Irish offshore energy market

Danish wind company Orsted said it is “actively exploring” the “huge” potential of the Irish offshore energy market as Taoiseach Leo Varadkar attended its headquarters in Cork to mark its €700 million investment in wind energy in Ireland over the last two years.

The global owner and operator of renewable assets has 19 operational wind farms across Ireland, creating 360MW of capacity, the equivalent of powering over 234,000 homes.

Orsted has about 100 staff here and said it has plans to expand this number further over the next 18 months. Globally, Orsted invested €5 billion in 2022, primarily driven by the construction of solar and wind assets.

“We are all deeply attuned to the importance of renewable energy in creating a sustainable future for Ireland,” said Mr Varadkar on Friday.

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“Companies like Orsted have the scale, expertise and vision to make it happen, and to help ensure we meet our 2030 renewable energy targets.

“With both Irish and European energy projects being driven by the high-level team in Cork, Orsted is an inspirational example of how a company can leverage the benefits of being based in Ireland to have global impact.”

TJ Hunter, senior director at Orsted, said: “It has been an exciting time for Orsted in Ireland, as we continue to expand our operations and investment here while delivering projects across Europe.

“Ireland already has one of the world’s highest percentages of electricity generated from wind power, with ambitious renewable targets aiming to generate 80 per cent of our electricity from renewable sources by 2030.

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“There is huge opportunity for growth in this sector, across onshore, offshore, solar and more.

“We are committed to playing our role in ensuring Ireland becomes a world leader in renewable energy, investing in a variety of renewable energy sources to ensure reliability and independence of supply.

“As we continue to build our onshore renewables base, we are also actively exploring the Irish offshore market, utilising our global experience in this sector to realise the vast potential of Ireland’s maritime area.”

Last month, Orsted announced the acquisition of Garreenleen solar farm in Carlow which could power up to 56,000 homes.