The OREDP identifies the opportunity for the sustainable development of Ireland’s abundant offshore renewable energy resources for increasing indigenous production of renewable electricity, thereby contributing to reductions in our greenhouse gas emissions, improving the security of our energy supply and creating jobs in the green economy.
The OREDP sets out key principles, policy actions and enablers for delivery of Ireland’s significant potential in this area. In this way, the OREDP provides a framework for the sustainable development of Ireland’s offshore renewable energy resources.
In order to support and boost ocean energy development in Ireland the Minister for Communications, Energy and Natural Resources plans to introduce “initial market support scheme” equivalent to €260/MWh and strictly limited to 30MW for ocean (wave and tidal) energy. The support will be granted to the ocean developers through public bidding process.
The Plan also sets to create capital grants for development and demonstration ocean projects. The grant scheme will be opened in 2017.