Offshore energy may prove to be a winner for Ireland with news of a development in Brussels that marks the beginning of formal preparations for "one of the most ambitious renewable energy projects worldwide".

The Energy Minister Eamon Ryan said that 10 European countries, including Ireland, have signed a Memorandum of Understanding to develop an international offshore electricity 'supergrid' in the North and North Western Seas.

It will also facilitate delivery of large-scale offshore wind projects to vastly increase the amount of renewable electricity generated from North Seas wind and waves and further secure European energy supplies and help deliver a market for renewable energy exports.

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He said that, last year a political declaration of intent to develop the project was made by the countries involved; Ireland, the UK, Denmark, France, Germany, Sweden and the Benelux Countries. Norway has since joined the project.

"The signing in Brussels by the relevant Energy Ministers and their representatives will establish a formal structure to proceed with the initiative," said the Minister.

According to the Department of Communications, Energy and Natural Resources work will focus on the coordinated development of offshore and onshore grids to ensure cost-effective and sustainable investment.

Potential barriers to grid development, such as planning, legal or regulatory issues at national and EU level will be identified, with Minister Ryan stressing the significance of the initiative: "This is the best policy decision taken in the EU since the 20-20-20 renewable energy and energy efficiency targets.

"Ireland has been driving this agenda since the beginning. We have the best wind and wave resources in Europe, and political will to match.

"This infrastructural project is set to be one of the biggest transnational power structures worldwide.

"It will ultimately connect offshore wind farms in Northern Europe allowing countries with surplus energy, to export to those with higher demand," he said, noting that Ireland will be one of the primary export countries.

(BMcC/GK)