Equinor pulls out of Irish offshore wind market
Norwegian energy company Equinor has abandoned the Irish offshore wind market, ending a partnership with the nation’s Electricity Supply Board (ESB) after just two years, according to reports.
In 2019, Equinor reached a deal with the ESB to turn the Moneypoint coal-fired power station in County Clare into a hub for offshore wind development with a large-scale green hydrogen production and storage facility as well.
In February 2021 Equinor and ESB announced that they were applying for a foreshore licence for the site but the Irish Examiner now reports that Equinor has pulled out of both the Moneypoint project and the Irish market altogether, citing ‘dissatisfaction with the regulatory and planning regime that currently exists for offshore energy development.’
The ESB confirmed in a statement that, ‘Following a review by Equinor of its strategy to develop profitable growth in renewables they decided to stop their early phase offshore wind activities in Ireland, in part due to local regulatory uncertainty.’
New maritime planning law
Ireland’s legislature is currently finalising a new maritime spatial planning and permitting law, which is expected to pass in December but some are concerned that might not be fast enough to keep pace with the global offshore wind industry.
“We are not reforming Ireland’s planning and regulatory framework quickly enough to develop the offshore wind we will need to meet the targets in the Climate Action Plan,” said Noel Cunniffe, the chief executive of industry association Wind Energy Ireland. “This is leading to a lack of confidence in the industry and our international supply chain that government must address.”
However, RTE reports that the outlook for the sector is still positive, according to the Minister for Climate Action, Eamon Ryan. “We want as many different developers as possible and there are a huge number coming in. Some are pulling out. We note and listen to what they’re saying,” he said.
