Ireland sets guaranteed price for offshore wind power

Feb 08, 2008 01:00 AM

Ireland's energy minister Eamon Ryan announced the guaranteed price offered to offshore wind power developments at EUR 140/MWh ($ 203/MWh) under the government's renewable energy feed-in tariff scheme.
"The support price is in line with what other countries are offering and without it we would not be able to attract any investment into Ireland. Now, investors can be confident when they invest in offshore wind," Ryan said.

The tariff scheme provides a guaranteed price for electricity produced from renewable sources by new plants for 15 years.
Ryan also said the Department of Energy was working on proposals with the Energy Departments in Scotland, Northern Ireland and Wales on the feasibility of building new subsea transmission links under the Irish Sea. They are investigating the possibility of a European offshore grid connecting wind farms from other areas so that electricity will be produced on a consistent and predictable basis.

"Offshore wind projects and investors will reap the benefits of the guaranteed price and further connection with Europe.”
“Projects of real scale can be developed," Ryan said.

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