Ireland will see a total of €4.7bn invested in onshore wind energy projects between now and 2020, and will more than double its production of clean indigenous and renewable energy, according to the Irish Wind Energy Association (IWEA) which revealed the figures at its annual Autumn conference in Galway.

Entitled 'Building a Sustainable Energy Future' the conference heard that, at the end of September, 119 new wind energy projects have signed contracts to accept grid connection offers as part of the 'Gate 3' process. Deposits totalling approximately €27m have been paid by the applicants of the 119 projects, which will have a total generation capacity of 2,746 megawatts (MW). The increased capacity will more than double the amount of electricity generated by wind in Ireland and allow Ireland to meet its 2020 energy targets, thereby avoiding significant financial penalties amounting to at least €350m per year.

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Speaking at the conference Kenneth Matthews, CEO of IWEA, said: "We estimate that 2014 and 2015 will see a significant growth in the wind energy sector and that investment over the next seven years by this next tranche of wind energy projects will total almost €4.7bn. The economic benefits of this growth will be reaped at a national level, through taxation and the avoidance of significant financial penalties, and at local levels throughout the country by way of direct and indirect employment and through ongoing commercial rates.

"It is critical now that we maintain momentum and create the required regulatory certainty that will ensure delivery of these projects between now and 2020. As an industry we must bring all communities and stakeholders on this journey if we are to collectively reap the benefits."

(CD/JP)