Ireland will give a major boost to the development of ocean energy through a major new programme of activity and funding including a guaranteed price for energy generated from the waves.
Energy Minister Eamon Ryan launched the Ocean Energy initiative, pledging over EUR26 million of targeted funding for the sector over the next three years in an effort to make Ireland a leading player in the renewable energy field.
Launching the initiative at the Maritime College in Cork, Minister Ryan said, “We have unparalleled ocean resources in Ireland. The aim behind this R&D funding is to enable Ireland to win the race of developing a full-scale, commercially viable ocean energy device for generating electricity.”
The programme aims to support research and development into the commercialization of ocean energy devices. A new feed-in tariff of EUR220/MWh will be offered to support new projects.
“Ireland now has the most sophisticated state support system for ocean energy in the world,” said Ryan. “The government is supporting start-up research through to the commercial production of electricity from the ocean. We then guarantee a price for this electricity that is one of the most competitive in the world.”
The initiative will also include the development of a National Ocean Energy facility at University College Cork that will have an advanced wave basin for the development and testing of early ocean devices. Grants of EUR2 million will support development of a grid-connected wave energy test site at Annagh/French Point near Belmullet, Co. Mayo.
In addition, EUR2 million in grants will be made in 2008 under the Ocean Energy Prototype Fund to help developers to make their devices commercial.
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