ESB has welcomed the Offshore Renewable Energy Development Plan (OREDP) published by the Minister for Communications, Energy and Natural Resources, Pat Rabbitte TD.

The plan sets out policy structures to support the early stages of ocean energy development in Ireland, and includes the results of a comprehensive strategic environmental assessment which indicates there is potential to generate at least 1,500MW from ocean energy, without significant adverse environmental impacts.

"By providing clarity around Government policy support for the early stages of ocean energy development, the OREDP will help to establish investor confidence and attract funding to support the early stages of Research, Development and Demonstration (RD&D)," said John McSweeney, Head of Innovation at ESB.

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"Ireland's oceans have the potential, in time, to provide large quantities of indigenous, renewable energy and reduce our dependence on imported fossil fuels, generating significant jobs and growth in the economy," said McSweeney. "However, early stage RD&D is critical if we are to realise the ultimate aim of progressing to a larger commercial scale projects. The plan published today gives a significant boost to the sector in this regard."

In addition to making available financial supports for RD&D and the introduction of market support tariffs for development of ocean energy, the OREDP outlines policy support for collaboration with Northern Ireland and Scotland in the area of ocean energy.

It also provides for the establishment of a new steering committee, led by the Department of Communications, Energy and Natural Resources, to oversee the implementation of the plan.

"We would welcome an opportunity to participate on the Steering Committee and, with the backing of the plan, we will explore the opportunities to collaborate with our neighbours in Northern Ireland and Scotland in the context of the WestWave project," said McSweeney.

(CD/JP)