WHEN SURFERS catch 50 foot (15.25 metre) waves off the Irish coast, as Devonian Andrew Cotton did in Mullaghmore, Co Sligo, recently, ocean energy researchers do their sums. This Atlantic seaboard has some of the most energy intensive swells in Europe, attracting enthusiasts from Brazil, South Africa, Australia and even Hawaii to these shores.
Much has been made of recent hydrocarbon finds in these waters, but the ocean energy sector points to the fact that we already have a remarkable “gift of nature”. It points out that Ireland has one-third of all of north-west Europe’s renewable energy resources, from wave to some of the highest wind speeds. The technology for harnessing wave and tide action is still being developed but the Marine Renewable Industry Association says that a basic supply chain has already emerged to support the “most mature” of the renewable technologies. With the right environment, Ireland could become an energy-exporting state, replacing almost €6 billion in annual energy imports with up to €10 billion in exports, it says. The consequent supply chain could create many jobs in research and development, finance, legal services design, manufacture and device assembly.
The Sustainable Energy Authority of Ireland and Invest Northern Ireland made much the same case two years ago, forecasting that an island of Ireland ocean energy industry could produce a net present value of around €9 billion and create “many thousands” of jobs. These benefits would only be achievable if Ireland secured “early mover advantage”. Already both Scotland and Northern Ireland are forging ahead, with Scottish first minister Alex Salmond making ocean energy a “key economic priority”. Scotland has attracted substantial investment from major players, including ABB, Rolls Royce and the Swedish Vattenfall. The latter company had moved to invest in Ireland’s offshore renewables sector, but judged Ireland to be “closed for business” after two years.
This State needs to show that it is “back open”, the industry says. There is no shortage of expertise. Six universities have 200 researchers in the field, with University College Cork enjoying one of the largest concentration of ocean energy researchers in the world. Minister for Energy Pat Rabbitte is due to publish an Ocean Renewable Energy Development Plan this year. It should be more than aspirational. A clear plan of action is needed if this State is to catch up on the march stolen by our neighbours.