LABOUR HAVE CALLED on the government to ensure the State plays a greater role in the development of offshore wind farms.

It follows a new investigation published today by The Journal Investigates that found just two Irish companies hold a significant stake in the numerous offshore wind projects currently in the pipeline off the Irish coast.

ESB and Kerry-based wind energy developer Saorgus Energy are involved in two separate projects, but neither is the lead developer.

This means one of Ireland’s most lucrative natural resources is being sold to a range of foreign investors looking to make a profit.

Labour Spokesperson for Climate and Energy Ciarán Ahern said: “It’s deeply worrying that one of Ireland’s most abundant natural resources, our wind energy capacity, appears to be being handed over to private interests.”

He said that while he acknowledged the need for private investment and expertise, “for the ESB to hold a stake in only one offshore wind farm – and not even a controlling stake at that – is cause for concern”. ESB declined to comment.

Ahern said that offshore wind farms will be a “vital piece of infrastructure” in the near future and that the State should take “a much stronger role” in their development.

ESB will be involved in future offshore wind projects, having signed an agreement with Danish energy company, Ørsted, in 2023 to develop an offshore wind portfolio. However, these projects are not at an advanced stage.

Backed by fossil fuel companies

Today’s investigation also revealed that half of the six projects that are furthest along in development are backed by fossil fuel companies, including big oil and gas.

Among the companies involved are oil company BP, who are in partnership with Japan’s largest power generation company JERA on one project, French state-owned energy company EDF and a German multinational energy company RWE — one of Europe’s largest CO2 emitters over the last five years.

Ahern added that he was “particularly troubled” by the involvement of these fossil fuel companies in the projects.

“We cannot allow the rollout of these vital pieces of infrastructure [to] become exercises in greenwashing for those doing the most damage to the global environment and climate.”

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“The benefits of Ireland’s natural resources should be enjoyed by everyone; they cannot simply be another revenue stream for foreign-owned big energy companies,” he continued.

The companies behind the projects said they were committed to investing in renewable energy and helping Ireland reach its climate targets.

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Conor O’Carroll is an investigative reporter with The Journal Investigates.

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